bengaluru coworking space major we company popularly known as wework has filed its first public regulatory filing it is expected to be one of the largest initial public offerings ipos in the us after the recent listings by cabhaling major uber and other major usbased startupswework which was last valued at 47 billion saw its revenue management fee going up in india during the first six months of 2019 compared to 2018 see graphic the regulatory filing with the us securities and exchange commission showed among the asian markets the share of the management fee wework gets in india is highest at 12 of the revenue in china and japan it gets 8 of the revenue according to the filing also known as s1started in 2010 wework entered india in late 2016 through a strategic partnership with real estate group embassy where the latter owns the property and the new yorkbased company runs the workspaces under its brand in january toi reported wework was in talks with the embassy group to buy out a stake of at least 51 in the india business but a valuation mismatch had emerged as a major hurdle it would now move only after the ipo is over said a person briefed on the matterwework where softbank is one of the largest investors disclosed a net loss of almost 690 million and a revenue of 15 billion in the first six months of 2019 while the s1 document did not indicate the final size of the capital wework plans to raise via this ipo a report by the financial times said it could be as much as 3 billion wework said it is present in 528 locations across 29 countries and that half of its revenue comes from markets outside the usour membership base has grown by over 100 every year since 2014 the company said in the s1 it added that it took more than seven years to achieve a 1billion runrate revenue but only an additional year to reach 2 billion and just six months to reach 3 billionin india wework ended last year with 35000 desks across 17 locations it has plans to increase it to around 90000 desks by the end of 2019 weworks licensing deal with embassy is valid till 2021 it sees a mix of enterprise and emerging technology companies as its clients amazon microsoft and travel startup ixigo are some of its customers in india