Soho House has raised capital valuing it at $2 bln. Unlike WeWork, it can flaunt years of history and rising profitability. Yet the heady price tag will only make sense if Soho House keeps expanding without sacrificing its exclusive appeal, says Unmack1:
Soho House reported revenue of 433 million pounds in the year ending December 2018, and EBITDA of 56.4 million pounds.
The group said on Oct. 28 that it had raised $100 million by selling a 5% stake to investors including Raycliff Capital and Simon Property Group. The investment valued Soho House’s equity at $2 billion, and the group will have net debt after the capital raise of 345 million pounds. Soho House has over 89,000 members, offering access to venues such as 40 Greek Street in London, the Scorpios beach club in Mykonos, and Dumbo House in Brooklyn.
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