Home News What We Learned About WeWork’s Education Operations From Its IPO Filing – Ed Surge

What We Learned About WeWork’s Education Operations From Its IPO Filing – Ed Surge

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The short answer: Not much.

On Wednesday, WeWork (formally called The We Co.) filed long-anticipated financial documents with the U.S. Securities and Exchange Commission to prepare to go public. Most of the details focus on its flagship workspace-sharing business and the associated costs and revenues for its leasing and membership operations.

But the documents did shed a few details on the company’s nascent education-related operations. In October 2017, WeWork paid about $28 million to buy coding bootcamp operator Flatiron School. Of that amount, $15 million came in the form of cash, and the rest as a mix of common and preferred stock. Flatiron had raised about $14.5 million in venture capital prior to the acquisition.

Following the deal, Flatiron has grown from offering a single course at one New York location to nine campuses in the U.S. and London, according to the documents. WeWork also claimed that Flatiron’s revenues increased over ten times from October 2017 to March 2019.

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