WeWork is on track to turn profitable in 2021 and will then revisit plans for an initial public offering, Chief Executive Officer Sandeep Mathrani said, a year after the startup’s IPO fiasco prompted the ouster of his predecessor.
The office-sharing startup renegotiated leases, laid off staff and replaced management after Japan’s SoftBank Group Corp. took control. The business is bouncing back “100%” in certain Asian markets, including China, South Korea and Singapore, Mathrani told a small group of reporters in India on Wednesday.
