NEW YORK: WeWork has opened almost as many new locations in the last 3½ months as it did in the whole first half of this year, likely accelerating the speed with which the office-sharing company is burning through cash as increasingly hard-nosed investors scrutinize its prospects for going public.
According to a Reuters analysis of information on the company’s website, WeWork had 622 sites open in 123 cities on Oct 10. That compares with its footprint of 528 locations in 111 cities on June 30 that was outlined in the prospectus for its abandoned IPO.
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