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WeWork files for a confidential IPO

The co-working giant is valued at a whopping $47 billion on the private markets

Founder and CEO Adam Neumann (Credit: JamelToppin/Forbes)

Adam Neumann appears to be strongly considering bringing WeWork to the public markets after the co-working giant filed confidentially for an IPO in December, the company announced.

Primer: ‘Confidential IPO’ filings were introduced in the 2012 JOBS Act to allow companies with under $1 billion in revenue to confidentially file an S-1 with the SEC and only have it revealed 15 days before the actual offering. The $1 billion limit was removed in 2017, according to CNBC.

The benefit: This has encouraged tech companies to explore going public by removing the concern that the process will reveal their business strategies to competitors. It also shields companies from the intense media scrutiny that comes along when testing the waters for an IPO.

Be SmartSoftBank’s most recent investment valued WeWork at a whopping $47 billion. The company continues to astound with its billions in losses.

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