For WeWork, one of the most important measures of its success is its breakneck growth — even if that means huge losses.
The co-working company disclosed on Monday that its losses more than doubled last year to about .9 billion, even as its total revenue also doubled to about .8 billion. But instead of expressing concern about the mounting losses, executives argued that they were a sign of the company’s giant ambitions.
“We can very much, if we chose to, moderate our growth and become profitable,” Artie Minson, WeWork’s president, said in a telephone interview. “But it’s a time for us to continue to accelerate.”
Michael Gross, the company’s vice chairman, added, “We’re looking at building this business out, not just maximizing profitability over the next one to two years.”
WeWork’s valuation of about billion makes it one of the world’s most valuable privately held companies. Begun as a co-working space in Manhattan eight years ago, it has also become one of the biggest corporate landlords in the world. It has continued to expand rapidly into new markets around the world.
But the costs of the company’s rapid growth stand out, even among the crowd of technology darlings that run huge losses to expand their empires. Uber lost .8 billion last year, an improvement over the .2 billion it lost in 2017, while Lyft lost 1 million last year.
Such companies argue that for now, they are willing to tolerate red ink because the cost of slowing down is too high. But several companies that went public with huge losses, including Groupon and Snap Inc., now trade well below their initial public offering prices. And many shareholders expect the businesses they invest in to eventually make money.
WeWork’s ambitions to overhaul the working world have drawn the backing of deep-pocketed investors like SoftBank, the Japanese technology giant, which believes the company represents the future of work.
The company now has 401,000 paying members in 100 cities, up significantly from 2017. And it has continued to expand its base of corporate customers, including businesses like Amazon and PepsiCo. (Corporate memberships now make up roughly a third of WeWork’s overall subscriptions.)
And the company is spending more to add more amenities to its work spaces, which already include coffee and beer in many places.
Mr. Minson also played down the .9 billion loss, which was calculated according to generally accepted accounting principles, in favor of a number of nonstandard measures. One measure, called adjusted Ebitda, strips out costs like taxes and stock-based compensation. That led to a 5.7 million loss last year, compared with 3.3 million in 2017.
And then there is “community-adjusted Ebitda,” which excludes those expenses — as well marketing, administrative and other costs of growing the business. By that measure, WeWork earned 7.1 million last year, double what it earned in 2017.
WeWork executives argued that the company was in a strong financial position, with .6 billion in cash and committed capital. It also raised 2 million from its first-ever bond sale last year.
Mr. Gross added that the company could issue more debt or take on another investment if necessary.
“We have no need to tap the equity capital markets, but there’s a lot of interest and demand in our story,” he said.
And while critics of WeWork worry that the company might suffer in an economic downturn — particularly by being trapped in long-term leases — Mr. Minson argued that the company could draw more customers looking to downsize and wanting cheaper office space.B:
李立勇通天报―新宝会“【慕】【容】【琂】？”【慕】【容】【琂】【听】【慕】【容】【初】【直】【呼】【其】【名】，【没】【有】【半】【分】【生】【气】【只】【是】【挑】【眉】【含】【笑】。 【慕】【容】【初】【自】【知】【歉】【意】，【低】【头】【施】【礼】【道】：“【皇】【叔】。” 【夏】【冰】【等】【人】【在】【后】【面】【行】【了】【礼】。 【东】【方】【尘】【怯】【怯】【的】【走】【到】【慕】【容】【琂】【面】【前】，【喏】【喏】【的】【叫】【了】【声】：“【父】【亲】。” 【慕】【容】【初】【惊】【讶】【的】【怔】【愣】【在】【原】【地】，【不】【置】【信】【的】【看】【向】【两】【人】。 【慕】【容】【琂】【只】【是】【嗯】【了】【一】【声】，【眼】【神】【直】【盯】【着】【慕】【容】【初】【的】
【叶】【天】【苍】【似】【乎】【是】【想】【到】【了】【什】【么】【可】【怕】【的】【事】【情】【不】【由】【得】【神】【色】【变】【得】【有】【些】【凝】【重】【起】【来】！ 【正】【如】【他】【所】【言】——【禁】【忌】，【九】【为】【极】，【想】【要】【突】【破】【九】【极】，【达】【到】【另】【外】【一】【个】【可】【称】【之】【为】【禁】【忌】【的】【层】【次】，【冥】【冥】【之】【中】【那】【是】【会】【引】【来】【杀】【身】【之】【劫】【的】！ 【而】【如】【今】，【这】【道】【祖】【神】【像】【就】【欲】【要】【吟】【唱】【出】【第】【十】【声】【九】【字】【真】【言】，【这】【在】【某】【种】【程】【度】【上】【同】【样】【是】【禁】【忌】【的】【突】【破】，【所】【以】【才】【在】【无】【形】【之】【中】【勾】【动】【了】【莫】
【陈】【曌】【看】【着】【剩】【下】【的】【几】【个】【人】。 “【对】【于】【你】【们】【对】【我】【和】【我】【的】【家】【人】【的】【谋】【划】【与】【伤】【害】，【我】【都】【可】【以】【大】【度】【的】【原】【谅】【你】【们】。”【陈】【曌】【用】【温】【柔】【的】【语】【气】【说】【道】：“【可】【是】【你】【们】【却】【在】【一】【所】【小】【学】【里】【纵】【火】，【这】【是】【不】【能】【被】【原】【谅】【的】。” 【哈】【姆】【森】【的】【脸】【色】【也】【是】【微】【微】【一】【变】，【不】【由】【得】【看】【向】【史】【丹】【利】【和】【杜】【鲁】【门】。 【即】【便】【他】【们】【刚】【出】【世】，【也】【知】【道】【灵】【异】【界】【的】【一】【些】【触】【及】【底】【线】【的】【规】【矩】。
【皇】【家】【女】【子】【的】【这】【一】【次】【出】【手】，【让】【李】【青】【玄】【推】【断】【出】【了】【许】【多】【信】【息】。【这】【也】【让】【李】【青】【玄】【下】【定】【决】【心】，【在】【这】【次】【出】【城】【的】【过】【程】【中】【不】【到】【万】【不】【得】【已】【绝】【对】【不】【会】【让】【苏】【怡】【的】【存】【在】【暴】【露】。【经】【过】【了】【这】【一】【次】【有】【惊】【无】【险】【的】【恶】【灵】【袭】【击】，【导】【师】【让】【队】【员】【们】【原】【地】【休】【整】【处】【理】【伤】【势】。 【科】【研】【队】【员】【们】【的】【伤】【情】【基】【本】【无】【碍】，【也】【就】【是】【一】【些】【皮】【外】【伤】。【倒】【是】【有】【一】【头】【科】【恩】【兽】【的】【腿】【被】【划】【出】【了】【一】【大】【道】【口】【子】李立勇通天报―新宝会【英】【美】【荷】【三】【国】【的】【公】【共】【租】【界】【侨】【民】，【私】【下】【都】【被】【工】【部】【局】【前】【董】【事】【们】【告】【知】，【即】【将】【被】【关】【入】【日】【军】【集】【中】【营】，【而】【民】【国】【三】【十】【二】【年】【这】【个】【新】【年】，【或】【许】【是】【他】【们】【在】【沪】【市】【最】【后】【一】【个】【相】【对】【自】【由】【的】【节】【日】【了】。 【于】【是】，【大】【家】【在】【生】【活】【方】【面】【也】【不】【再】【那】【么】【节】【约】，【想】【方】【设】【法】【买】【到】【市】【面】【上】【能】【够】【买】【到】【的】【食】【材】，【尽】【可】【能】【全】【家】【聚】【在】【一】【起】，【拿】【出】【珍】【藏】【的】【红】【酒】，【做】【平】【时】【舍】【不】【得】【吃】【的】【饭】【菜】，
【昊】【天】【上】【帝】【离】【了】【玉】【虚】【宫】，【直】【接】【来】【到】【岐】【山】【姜】【子】【牙】【大】【营】。 【此】【时】【姜】【子】【牙】【正】【在】【等】【待】【士】【卒】【收】【拾】【行】【装】，【还】【未】【撤】【离】，【昊】【天】【上】【帝】【也】【不】【找】【人】【通】【报】，【径】【直】【闯】【入】【中】【军】【大】【帐】。 【不】【过】，【未】【免】【太】【过】【扎】【眼】，【昊】【天】【上】【帝】【倒】【是】【也】【换】【了】【一】【身】【着】【装】，【燃】【灯】【等】【人】【看】【见】【一】【个】【身】【穿】【华】【服】【的】【男】【子】【昂】【首】【进】【入】，【正】【纳】【闷】【间】，【就】【听】【见】【龙】【吉】【公】【主】【娇】【声】【叫】【道】：“【父】【亲】，【你】【怎】【么】【来】【了】
「【勇】【敢】【者】」【罗】【格】【曼】【坐】【在】【他】【最】【喜】【欢】【的】，【起】【居】【室】【那】【张】【精】【致】【华】【美】【的】【软】【椅】【之】【上】。【他】【的】【面】【庞】【红】【润】，【体】【格】【健】【壮】【如】【前】，【目】【光】【中】【混】【合】【着】【烈】【焰】【与】【暴】【风】，【可】【宽】【厚】【有】【力】【的】【手】【掌】【却】【微】【微】【颤】【抖】。 【一】【切】【是】【从】【十】【几】【日】【前】【开】【始】【的】。 【帝】【国】【不】【甘】【不】【愿】【地】‘【和】【谈】’【还】【不】【至】【于】【动】【摇】【他】【的】【地】【位】。【士】【兵】【们】【仍】【旧】【效】【忠】【于】【他】，【巴】【拉】【克】【和】【库】【伦】【也】【一】【样】。【失】【去】【的】【官】【员】【们】【自】【有】