Apr 29, 2019 - Economy & Business

WeWork says it's going public

Source: Getty Images

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

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Axios

16 mins ago - Politics & Policy

McConnell: Senate has "more than sufficient time" to process Supreme Court nomination

Senate Majority Leader Mitch McConnell (R-Ky.) said in a floor speech Monday that the chamber has "more than sufficient time" to confirm a replacement for Supreme Court Justice Ruth Bader Ginsburg before the election, and accused Democrats of preparing "an even more appalling sequel" to the fight over Brett Kavanaugh's confirmation.

Why it matters: Senate Minority Leader Chuck Schumer (D-N.Y.) has said "nothing is off the table next year" if Republicans push ahead with the confirmation vote before November, vowing alongside Rep. Alexandria Ocasio-Cortez (D-N.Y.) to use "every procedural tool available to us to ensure that we buy ourselves the time necessary."

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Axios

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 1:30 p.m. ET: 31,120,980 — Total deaths: 961,656— Total recoveries: 21,287,328 — Map.
U.S.: Total confirmed cases as of 1:30 p.m. ET: 6,819,651 — Total deaths: 199,606 — Total recoveries: 2,590,671 — Total tests: 95,108,559 — Map.
Health: CDC says it mistakenly published guidance about COVID-19 spreading through air.
Politics: House Democrats file legislation to fund government through Dec. 11.
Business: Unemployment concerns are growing.
World: "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.

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Alayna Treene

3 hours ago - Politics & Policy

House Democrats file legislation to fund government through Dec. 11

House Speaker Nancy Pelosi (D-Calif.). Photo: Chip Somodevilla/Getty Images

House Democrats on Monday released their proposal for short-term legislation to fund the government through December 11.

Why it matters: This is Congress' chief legislative focus before the election. They must pass a continuing resolution (CR) before midnight on Oct. 1 to avoid a government shutdown — something both Hill leaders and the White House have claimed is off the table.