WeWork's first day of trading on the NYSE closed up 13.5% after the company went public through a SPAC with BowX.
WeWork has a market cap of about $9.5B (compared to the $47B valuation before its failed IPO in 2019). They accumulated $6B in fresh losses during the 18 months ending in mid-2021. WeWork's founder Adam Neumann holds 11% of the company (worth about $1B), after being pushed out by WeWork's largest investor SoftBank, in 2019. He held a party for WeWork's first 100 employees to celebrate the SPAC. SoftBank has put more than $17B into WeWork since 2017. Link
