WeWork’s parent organization The We Company announced that it will withdraw its S-1 filing for its IPO.
WeWork postponed its plan to go public, reportedly until next year, following a disastrous initial public offering (IPO) attempt that resulted in its chief executive Adam Neumann stepping down last week.
“We have decided to postpone our IPO to focus on our core business, the fundamentals of which remain strong. We are as committed as ever to serving our members, enterprise customers, landlord partners, employees and shareholders. We have every intention to operate WeWork as a public company and look forward to revisiting the public equity markets in the future,” said Co-CEOs Artie Minson and Sebastian Gunningham.