business

Office sharing startup WeWork plans to cut valuation to below $20 bil

6 Comments
By TIMOTHY A CLARY

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© 2019 AFP

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Office subletting has been around for ages, so dont know what all the fuss over WeWork is about.

3 ( +3 / -0 )

Office subletting has been around for ages, so dont know what all the fuss over WeWork is about.

So has paying people to pick you up in a car and driving you to a destination, and yet Uber managed to become huge even though there had previously been an existing taxi industry.

The idea of subletting office space has been around for ages, but it's how wework does it that is different.

-1 ( +0 / -1 )

This IPO is gonna go off the rails. The principles get rich, the investors get soaked, the public picks up the tab.

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co-founder Adam Neumann, such as personally investing in real estate before renting it back to WeWork

Ha ha! - like a dodgey ponzi account setup.

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Founder is a bigger liability than anything else... changed the company name and the company had to buy the rights to the new name for $6million because they were already owned. The owner was the founder. How will any of the nonsense like that even pass the American security commission before listing?

You would have to be insane, or SoftBank, to even consider investing.

0 ( +0 / -0 )

The company lost $1.9 billion last year with revenues of $1.8 billion.

So the company actually lost $100 Million and they expect their initial offering, prior to it being lowered, at $47 Billion?

Why would someone want to invest in a business that is already loosing money prior to it being on the open market?

Also, knowing a little about how Japanese do business here, this company is not going to do well in any areas outside of Tokyo or Osaka (maybe) and their prospects for real growth are limited here. Renting office space here is not cheap, and for their plan to work, they need to be in highly traveled areas, which have even higher rental costs, so I find it hard to believe how they are going to make any money here in Japan. (There are a bunch of other reasons as well! Just mentioned one major one!)

0 ( +0 / -0 )

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