Portfolio News

FORBES | WeWork Files Confidentially For IPO, The Latest Unicorn Startup To Test Public Markets



The We Company, the workplace startup formerly known as WeWork, said on Monday that in December it had confidentially filed to go public.

Launched in New York in 2010, WeWork began by renting out office spaces at wholesales price and refurbishing them to create a shared workspace for companies and individuals looking for a place to answer emails without the commitment of a commercial lease.

In 2017, Forbes reported that WeWork was one of the most valuable startups in America, worth an estimated $45 billion. It relied heavily on outside investments to stay afloat in some of the most crowded and expensive real estate markets in the world. Masayoshi Son’s Softbank has invested more than $8 billion, according to PitchBook.

The company reported $1.8 billion in revenue in 2018, twice that of the previous year, but it reported a loss of $1.9 billion. The We Company didn’t disclose any financial information in the amended S-1.

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Portfolio News

BrightFarms Recognized by Walmart with Produce Innovation Award

Catalyst-backed BrightFarms, the leading supplier of locally grown salads for supermarkets, was recently awarded the Innovation Award (Produce) at Walmart’s 2019 Supplier Growth Forum. The award follows a successful launch of BrightFarms salads in Walmart stores in Ohio.

BrightFarms produce reaches Walmart stores within 24 hours of harvest, providing consumers with a fresher product that’s grown indoors and without the use of pesticides. BrightFarms salads have quickly become a household favorite among consumers searching for more locally grown options.

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Blog

Auto Tech Market Overview

By Kirk Mahoney

The automotive industry stands at an inflection point. Decades of progress across safety, connectivity and performance have led to a drastic change in the vehicles on the road and for sale today. In addition, several colossal technology-driven changes are on the near horizon, which will in turn lead to even more drastic changes for the industry.

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