Detour on the road to WeWork IPO
Posted September 17, 2019 7:00 am
NEW YORK (AP) - WeWork is pushing back its public debut with investor confidence in the office share company once valued at around $47 billion appearing to grow shaky.
Wall Street had expected WeWork to begin a road show to market its shares as early as next week. The company said recently that those shares would be listed on the Nasdaq.
In a blistering hot year for IPO, the New York company appears to be having difficulty generating investor enthusiasm.
WeWork lost $1.61 billion last year while bringing in $1.82 billion in revenue.
In a prepared statement, the company said it expects to go public by the end of the year.
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