WeWork says it's going public
WeWork announced on Monday that it confidentially filed IPO registration paperwork with federal regulators last December, and an amended filing more recently. Axios has learned that the co-working giant has not yet picked bankers, and that the offering is likely to occur in the third or fourth quarters of 2019.
Why it matters: This would be one of the year's most controversial mega-IPOs, as WeWork is a "love it or hate it" sort of company among investors. One person close to the company told Axios that it could become the second-most shorted stock, behind Tesla.
- Some of the biggest skepticism around WeWork's model is whether it could sustain a downturn given its popularity among startups.
- The company has been diversifying its business by adding efforts like a coding school and a children's school.
- It's also been working to sign up large customers such as Microsoft and IBM with huge seat counts and longer contracts to help stabilize its business.
Go deeper: WeWork doubled revenue and loss in 2018