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WeWork, the company that works in collaboration, asked the company Monday to become public, making it the last private giant to consider moving towards the stock markets.
The company initially filed documents to be published by regulators in December. Adam Neumann, co-founder of WeWork, wrote in a memo to employees that was reviewed by The New York Times.
"We have regularly focused on how to take our business to the next level in all its aspects," Neumann wrote.
Like many other highly priced start-ups that have planned their stock market debut, WeWork is recording heavy losses – and shows no signs of short-term profitability.
The company was valued at $ 47 billion in its last round of fundraising, including new funds raised. This private evaluation would be put to the test by the I.P.O. process. While WeWork's sales are growing rapidly – it doubled last year to $ 1.8 billion – its losses, which more than doubled to $ 1.9 billion.
These companies, such as WeWork, Uber and Lyft, have argued that rapid growth is more important and will eventually prove more lucrative than breaking even for the moment.
Established eight years ago as a collaborative workspace in Manhattan, WeWork has grown to become one of the largest business owners in the world. It continues to grow rapidly in new markets.
The initial filings with the regulators were made before the company's talks to sell a majority stake in SoftBank, Japan's technology conglomerate, were in trouble. SoftBank finally invested an additional $ 2 billion in the company, for a total of $ 10.5 billion.
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