WeWork confidentially filed to go public

The We Company, better known as WeWork, announced on Monday that it had submitted its draft registration to go public with the Securities and Exchange Commission. The coworking startup initially submitted its Form S-1 with the SEC in December, according to a news release.

WeWork rebranded as The We Company in January in an effort to expand beyond commercial office rentals.

The We Company has raised over $10 billion in venture capital since 2011, according to Crunchbase. Softbank, the Japanese conglomerate, has invested some $10 billion in The We Company, in the form of venture capital, as well as debt instruments and secondary share sales not considered part of its funding raised. Softbank most recently invested in The We Company in January at a valuation said to be about $47 billion.

According to a recent financial report viewed by Business Insider, The We Company doubled both its revenue and losses in 2018, with $1.82 billion in revenue and $1.93 billion in net loss. That same report also said international growth accounted for more than 40% of revenue by the second half of 2018, up from 28% in the first quarter of 2017.

The We Company recently acquired Managed by Q to increase access to office and administrative services for its 401,000 commercial members in its 425 locations.

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