WeWork's parent company loses 616M euros before its IPO

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The company has doubled its revenues in the first six months of the year, up to 1,373 million euros, but has also seen how expenses grew in the same proportion.

WeWork closes the first semester in red numbers

 We Company, the parent company of the flexible workspace brand, has closed the first half with losses of 689.7 million dollars (616 million euros), 9.8% more than in the same period of 2018 .

Specifically, the company led by Adam Neumann closed the period between January and June with revenues of 1,535.4 million dollars (1,373 million euros), which means doubling the figures of the first half of 2018. Also, expenses also they have multiplied by two, up to 2,904.8 million dollars (2,597 million euros).

The company is preparing its jump to the stock market, so it has recorded the results of the last six months in the United States Securities Market Commission. In this sense, the number of shares or the price range with which the leap to the parquet would be unknown, although the document explains that it expects to commercialize ordinary class A shares with the right to one vote per title.

On the other hand, the coworking space company also ensures that it does not expect to pay dividends in a "foreseeable future" and that the intention is to use the net income obtained on its IPO for general corporate purposes.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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