- The office-leasing startup WeWork plans to raise more funding through a $500 million bond sale, according to the Financial Times.
- It’s the first time the company is raising money from debt investors after it raised billions in venture capital from backers such as SoftBank.
- WeWork disclosed startling underlying numbers for its business in its bond-sale documents, such as that it owes $18 billion in rent.
- The company’s revenue rose dramatically last year, but its costs rose faster.
- WeWork is planning to sell $500 million (£358 million) in high-yield notes, per reports from the Financial Times and Bloomberg this week.
- WeWork owes $18 billion in rent.
- WeWork is burning cash.
- It isn’t really about tech startups.
- A focus on bigger companies means higher occupancy rates.
- Like other tech CEOs, Adam Neumann controls the company.
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