This week’s Term Sheet theme has been around massive valuations, so today’s edition features We, the parent company of WeWork. The co-working behemoth just released its much-awaited IPO prospectus, which revealed new details about its financial performance.
WeWork was most recently valued at $47 billion after SoftBank, the company’s largest backer, invested an additional $2 billion in January. In its S-1, WeWork reported revenues of $1.5 billion and a net loss of more than $690 million for the first six months of 2019. For the full year of 2018, it showed $1.8 billion in revenue with a loss of $1.6 billion. (You can see the figures further broken down here.)
“Our membership base has grown by over 100% every year since 2014,” the S-1 reads. “It took us more than seven years to achieve $1 billion of run-rate revenue, but only one additional year to reach $2 billion of run-rate revenue and just six months to reach $3 billion of run-rate revenue.”
Today OpenSpace®, the global leader in reality capture and AI-powered analytics, formally announced platform support for the Insta360 Sphere, an easy-to-install, dual 360° camera that can be attached to DJI Mavic Air 2 and Air 2S drones. Paired with OpenSpace’s technology, drone capture with Sphere is easy and scalable—opening up 360° capture for a wider…
As the new year approaches, we’ve compiled the top 10 construction stories of 2022 as chosen by our readers 2022 was another rollercoaster year for the UK construction industry. Almost as soon as Covid-19 restrictions lifted, the industry, and the country as a whole, was hit by runaway inflation, a political and cost-of-living crisis, and…
Visualise, a digital platform developed by OpenSpace, a US-based specialist in AI-based analytics, is being used to capture construction data across 75 live building sites in Peru. Visualise, a digital platform developed by OpenSpace, a US-based specialist in AI-based analytics, is being used to capture construction data across 75 live building sites in Peru. A…
