WeWork urges investors to see losses as 'investments' ahead of its IPO
and uncertain path to profitability. Uber sold shares at the low end of its expected range last week and the stock is still trading well below its debut price.When asked if he was trying to differentiate WeWork's losses from the capital the ride-hailing companies spend on subsidies and discounts, Minson said, "that's a fair differentiator." Renting out work space is "a proven business model," he said. Memberships climbed to 466,000 from 220,000 a year earlier.
Still, WeWork's model continues to rely on heavy funding from private investors, namely SoftBank, which has poured over $10 billion into the company, including $2 billion this year at a $47 billion valuation. WeWork has to plunge cash into real estate in some of the most expensive markets and it makes money back over time as companies and individuals pay their rent, or membership.
But the public markets like to see profits when they're asked to pay such a high price. When Uber went public, it became
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