WeWork plans to list its shares on the Nasdaq

September 13, 2019 - 3:46 am

NEW YORK (AP) — WeWork's parent company is revealing more of its initial public offering plans, saying it expects to list shares on the Nasdaq.

The We Co. disclosed the information in a regulatory filing on Friday.

Founded as a co-working space in Manhattan in 2010, WeWork has grown to become among the biggest corporate landlords in some cities. It mostly makes money by renting buildings and dividing them into office spaces to sublet to members.

WeWork, whose IPO is expected this month, will be the latest money-losing enterprise to test its luck on the stock market this year, following Uber and Lyft. The company's revenue has more than doubled annually over the last few years, but its losses have grown just as quickly. Last year it lost $1.61 billion while bringing in $1.82 billion in revenue.