WeWork is expanding, and losing money, at a breathtaking pace, paperwork filed in connection with the company’s upcoming public offering showed Wednesday. Financial information in the filing revealed that the real estate giant continues each year to double its customer base, which increasingly includes large companies signing up for longer deals.
The filing also sparked a host of new questions about the sustainability of WeWork’s expansion, especially as the company relies more on non-U.S. markets and faces the rising risk of an economic slowdown. And potential investors might be especially sensitive to any vulnerabilities now that the company has confirmed it is keeping voting control with CEO Adam Neumann, giving potential new shareholders less power.
The IPO is expected to go forward within the next two months, led by JPMorgan and Goldman Sachs. Here are some key questions about WeWork’s trajectory raised by the filing.