WeWork to Raise Up to $4 Billion in Debt Ahead of IPO
Coworking giant, WeWork, is reportedly looking to raise up to $4 billion in debt before it goes public. Click To Tweet The company hopes that with this move, investors will have more confidence in the company, especially as the company’s sky-high valuation has been questioned amid low-performing unicorn IPOs.
Uber Technologies and Lyft went public this year with lofty valuations and both companies faced criticism from investors about their losses and lack of profitability. Last year alone, WeWork reported losses of almost $2 billion and after 10 years in operations it is yet to be profitable.
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If WeWork is successful in raising debt ahead of its IPO, the money could help the company grow “as big as $10 billion over the next few years”, a source familiar with the matter said. The coworking giant has met with Goldman Sachs and JPMorgan Chase to discuss the debt offering.
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