WeWork has announced it will withdraw its S-1 filing as it seeks to postpone its highly anticipated initial public offering.
its intent to go public on Aug. 14, revealing massive losses and a confusing corporate structure. Since then, the IPO for WeWork's parent company, The We Co., has been hanging in the balance, as it delayed its investor roadshow amid weak demand and a dwindling IPO valuation.
WeWork co-founder Adam Neumann"We have decided to postpone our IPO to focus on our core business, the fundamentals of which remain strong," WeWork co-CEOs Artie Minson and Sebastian Gunningham said in a statement Monday. "We are as committed as ever to serving our members, enterprise customers, landlord partners, employees and shareholders. We have every intention to operate WeWork as a public company and look forward to revisiting the public equity markets in the future.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WeWork throws in the towel on ill-fated IPOWeWork's parent The We Company said on Monday it will file to withdraw its ...
Read more »
How WeWork Went from Unstoppable Unicorn to Postponing Its IPOWeWork has announced it will be postponing its IPO indefinitely. reeveswiedeman reports on how, in a matter of weeks, one of the world’s most highly valued private companies became a cautionary tale
Read more »
WeWork withdraws its IPO filing after weeks of corporate dramaAfter weeks of corporate drama, WeWork announces plans to withdraw its initial public offering filing.
Read more »