WeWork’s Annual Loss Doubles to Nearly $2B Amid Rapid Expansion

WeWork Cos. on Monday said its loss last year doubled to nearly $2 billion, as the nine-year-old company spent heavily in an effort to rapidly expand its network of shared offices around the world. WeWork executives said the losses are reflective of investments required to build out new offices, and that once locations are open and well-leased, they make far more money than the cost to operate. While WeWork executives years ago predicted the company would be profitable by now, losses have continued to mount, fueled by the enormous interest from investors willing to keep funding its losses.

Source: www.wsj.com