WeWork will go public: Neumann
CEO claims co-working company on track to making $1B in revenue
WeWork’s [TRDataCustom] CEO Adam Neumann confirmed that the co-working company plans to go public, but cautioned it has still to decide when and where to list its shares.
Speaking at a luncheon at the Economic Club of New York last week, Neumann also reiterated claims that WeWork is on track to making $1 billion in revenue this year.
The firm’s IPO plans have been known for a while. Last July, Neumann said the company is “not afraid” to go public. WeWork recently revamped its structure in an attempt to give the young company a more corporate shape, bringing in new executives to manage its co-living and co-working businesses. The firm has raised $1.8 billion from investors, most recently at a $17 billion-plus valuation.
Neumann also claimed that the firm’s two co-living locations, outside Washington D.C. and at 110 Wall Street in Manhattan, are 100 percent leased, Reuters reported. [Reuters] — Konrad Putzier
(To view WeWork’s NYC office leases, click here)