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WeWork grows revenue, cuts capital expenditures

"WeWork broke its pattern of ever increasing underlying losses in the first quarter of 2019 as its executives pitched a story of strong growth prospects and more investor-friendly behaviour ahead of a possible stock market debut," said Eric Platt and Andrew Edgecliffe-Johnson in their article for the Financial Times. Despite encouraging reporting, however, the recent poor performance of Lyft and Uber loom large over WeWork, say the authors, and in doing so they cite Triton's Rett Wallace: ":The poor reception to Uber and Lyft’s IPO was dubbed 'the big reckoning for large-cap unicorns' by Rett Wallace of Triton Research. More than any of the other multibillion-dollar privately held groups in pursuit of an IPO, The We Company shares some of the closest characteristics to Uber and Lyft in regard to its financial performance, including wide losses and an evolving business model." Full article in the Financial Times - HERE


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