WeWork files for U.S. IPO

WeWork has filed an initial public offering with the U.S. Securities and Exchange Commission.

The company was valued at $47 billion in its latest round of private funding. However, the firm reported a $1.9 billion loss in 2018. The Wall Street Journal reported the company spends a lot of cash and the IPO could help keep up the flow. The company spent more than $2.3 billion of free cash in 2018, according to its annual report.

And the New York Times wrote, companies like WeWork and Uber “have argued that growing quickly is more important, and will eventually prove more lucrative, than breaking even right now.”

Recently, The We Company, formerly known as WeWork, acquired Managed by Q, the office management platform based in New York. Financial terms were not disclosed. The firm was recently valued at $249 mil