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Stock impact report

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 Check Earnings Report
Company Research 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 Show less Read more
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