Monday, April 29, 2019

WeWork Files For Confidential IPO

The We Company, the parent company of WeWork, has filed confidentally for an initial public offering (IPO), the company said late on Monday. The company--which runs a significant number of co-working spaces in Southern California, and in particular, the Los Angeles area--said it submitted its initial Form S-1 in December of 2018. The company has not released any other details of the IPO. A confidential IPO submission allows a company to work through any changes requested by the SEC without public disclosure of those changes. WeWork did not say when it anticipates moving to make its S-1 available to potential investors, which would be the next step in an IPO, and also did not give neams of the investment bankers who are underwriting the effort. WeWork, which is based in New York, has been a long time presence in Silicon Beach, where it honed its co-working space model. Image: WeWork's coworking space in Manhattan Beach.