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The WeWork Fiasco |
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INTRODUCTION |
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| In September 2019, the valuation of WeWork Inc. (WeWork), US’s leading commercial real estate company which offered co-working office space, fell from a projected US$ 47 billion in early 2019 to US$ 10 billion. The steep fall in valuation came within weeks of WeWork filing its IPO paperwork with the Securities and Exchange Commission (SEC) on August 14, 2019. The company’s valuation further decreased to US$ 8 billion by the end of October 2019. The fall in valuation was an aftermath of a scrutiny of the company’s financial statements after it filed for the IPO in August 2019. The scrutiny revealed WeWork had suffered heavy losses consecutively from 2016 to 2018. .. |
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PayPal (9 USD)
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