UPDATE 1-WeWork owner starts $2.9 bln platform to invest in real estate [Reuters (UK)]
Lyft, Inc. - Class A (LYFT)
Last lyft, inc. - class a earnings: 2/11 04:05 pm
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Source: Reuters
WeWork owner starts $2.9 billion platform to invest in real estate - Reuters 2 Min Read (Reuters) - Shared office space company WeWork’s owner, The We Company, on Wednesday set up a new real-estate investment platform, Ark, to buy and develop commercial properties around the world. Ark will have an initial investment of about $2.9 billion, with $1 billion from IvanhoAŠ Cambridge, a unit of Canada-based investor, CDPQ. The move to acquire and manage properties is a departure for the New York-based company, which has largely focused on renting office spaces, rather than owning them. WeWork, which was valued at about $47 billion in a private fundraising round in January, is currently heading toward what may be the year’s largest IPO after ride-hailing firm Uber. Last month, it confidentially submitted a draft registration statement for its initial public offering with the U.S. Securities and Exchange Commission. But its unprofitable operations, similar to Lyft Inc and Uber, have refuelle
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