Financial disclosures from Wework in support of its IPO reveal that the company loses almost $5,200/customer, and that it hemorrhaged $1.3B in the first half of 2019.
The company plans to lost $2.7b in 2019 overall. Its corporate mission is "to elevate the world's consciousness." They lose more money per customer than any other, even world-beating-loser Uber.
But what is staggering about WeWork, and what could turn off investors as a major stumbling block to profitability, is how much it loses per customer. It's 24 times the amount that ride-sharing giant Uber, another recent IPO, is on track to lose per active rider this year, and nearly 129 times what struggling meal delivery service Blue Apron losses per subscriber, and nearly 753 times the $6.90 per year that popular pet e-tailer Chewy.com lose a year per regular customer.
WeWork IPO filing shows it's losing nearly $5,200 per customer [
(via /.)
