FIRST AIRED: April 29, 2019

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COMING UP:Share Opener Variant 4

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Transcript

00:00:00
we work which provides shared working space for start ups in independent workers has filed for an initial public offering according to a statement from its parent we company on Monday the New York based company could be the second biggest US market listing of the year after uber which is expected to debut on the stock market next week in its latest funding round in January we work which counts softbank as a major investor was valued at forty seven billion dollars softbank is also an investor in Hoover and like the many high profile tech companies with big valuations including over we work is grappling with steep losses with little sign of turning a profit anytime soon in the first three quarters of twenty eighteen we work posted a net loss of about one point two billion dollars on revenue of nearly the same the company started as a co working space in Manhattan eight years ago and continues to expand fast into new markets