WeWork finally files for IPO

A lot of skeptical ink has been spilled over #WeWork, and I find the "takes Saudi money" aspect of it to be dodgy. But who amongst you actually works at one? If you work there, does it feel like a house of cards? Or is it in fact the best-ever solution to the need for flexible commercial real estate? https://lnkd.in/d7EzMRA

These guys make pets.com look like gold. Their ipo will be the end of this bull market. https://lnkd.in/dpy5BUG

I love the concept as a consumer, but WOW do they light money on fire! Just when you thought you’d never see a worse business than Uber / Lyft - WeWork rolls in like “hold my on-site brewed craft IPA and watch this!” WeWork is good for the US economy, small businesses & real estate market - just not for this investor...

My story today -- One of the reasons that the percentage of women on boards changes so slowly is that a key source of new directors, IPOs, like the venture capital world that spawns them, are so very male. WeWork has fallen into that same trap. Data from George Fleck shows that that among new IPOs since April, 317 of new directors were men and 68 were women. Malli Gero and 2020 Women on Boards found that half of IPO boards from 2014 to 2017 had no women. #corporategovernance #genderparity

As WeWork preps for IPO, it'll want all of its ducks in a row. Its app — where customers search for space, book space, and more — has seen low reviews as of late, in a trend that the company will likely want to reverse before it's too late. #ipos #sharedworkspace #alternativedata

Good notes about what isn't in the WeWork S-1 filing. What I see in it: WeWork understood its S-1 as a marketing document, and that's what it produced. In campaign parlance, it's a "turnout" tool (fodder to drive action among the people already supportive) versus a "persuasion" tool (convincing skeptics or people opposed to switch sides.) The opening paragraph: "No startup is as polarizing as WeWork, and for good reason. The company, whose relentless growth has seen it open 528 locations across 111 cities in just about nine years, has never been entirely forthcoming on exactly how the unit economics add up at its locations. And so we have had a beautiful Rorschach test for the financial class these past few years regarding the company: it’s either the greatest financial return of all time or a Ponzi scheme (and absolutely nothing in between dammit)." The S-1 is exactly what both sides need to see to cement their opinions. Still TBD: whether stoking the polarization helps or hurts WeWork's IPO. My bet: it won't hurt. [note: article is behind the Extra Crunch paywall, which is worth the $150/year imho] https://lnkd.in/gh7AWc8 #WeWork #IPO #startup #investors #marketing

Interesting fact amid #WeWork's IPO: 40 percent of members work for companies with 500+ employees. A much different reality versus the early beginnings.

The remarkable finances of #WeWork. For everyone from #MBA #finance geeks to desk-hopping millennials, the WeWork investment filings will make fascinating reading on any number of levels.

I love the concept as a consumer, but WOW do they light money on fire! Just when you thought you’d never see a worse business than Uber / Lyft - WeWork rolls in like “hold my on-site brewed craft IPA and watch this!” WeWork is good for the US economy, small businesses & real estate market - just not for this investor...

WeWork's path to an IPO has come at a price, as my latest story for Business Insider outlines. WeWork parent company The We Company's filing with the Securities and Exchange Commission revealed billions in losses, a sprawling collection of leases, and growing revenue — as well as burgeoning advertising expenses. Do you think marketing is a necessary expense as companies gear up for IPOs? Uber, by comparison, spent a lot more ($3.2 billion). #wework #IPO #marketing #advertising