The We Company confidentially files to go public

The We Company, the firm behind office sharing giant Wework, has confidentially filed to go public.

The firm said today it had amended documentation to an earlier filing with the Securities and Exchange Commission in December last year.

No financial information was revealed in the filing, though the We Company was reported in March to have made a net loss of $1.9bn (£1.5bn) on $1.8bn in revenue in 2018. This rose from a net loss of $933m and revenue of $886m a year earlier.

The firm largely sustains itself through funding from a network of private investors. Japanese giant Softbank has invested more than $10bn in the We Company, including a $2bn addition in January.

The recent investment from Softbank was originally said to be around $16bn, but it was slashed heavily against a backdrop of rising losses and a sell-off against large technology companies.

The We Company is the latest in a slew of tech giants to file to go public in 2019, following the likes of ride-hailing firms Lyft and Uber, and photo-sharing platform Pinterest.

The firm rebranded from Wework earlier this year as part of a move to expand into other business areas. The We Company also oversees Welive, a flexible residential unit, and an education wing named Wegrow.