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WeWork Publicly Unveils IPO Filing

A recent report that WeWork was preparing to unveil its IPO filing this week has proved true, with the co-working space company having done just that. WeWork just unveiled its S-1 filing with the SEC, revealing much previously unknown info and metrics of its business. Key takes from WeWork's S-1 filing include:
527,000 members as of Q2 2019 end, up from 401,000 in 2018 and 87,000 in 2016. More than 50% of WeWork's members are outside the US.528 WeWork locations (across 111 cities) worldwide, up from 425 (across 100 cities) in 2018 and 111 (across 34 cities)  in 201638% of the Global Fortune 500 are customers$1.54 billion revenue in the first half of this year, but with a $905 million loss in the same period. This is up from $764 million revenue in the first half of 2018 and a $723 million loss in the same period$320 million sales and marketing spend in the first half of this year, up from $140 million in the first half of 2018$3.3 billion revenue run rate (as of Q2 end), up fr…

Ripple nabs Google's messaging tech lead Amir Sarhangi for vice president of products position

Ripple CEO Brad Ganrlinghouse
Ripple

Blockchain company Ripple has hired Amir Sarhangi, The founder and CEO of Jibe Mobile who took up an executive position at the company after the acquisition of the company 3 years ago. Sarhangi who had been leading Google’s rollout of a new wireless messaging system is now joining Ripple as vice president of products.

Ripple Labs operates an eponymous real-time gross settlement system, currency exchange and remittance network built upon a distributed open source internet protocol that supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value.

The company launched in 2012 and has seen success with its Ripple coin whose market cap as of writing tops $18 billion with a 24 hour trading volume of $238 million according to coinmarketcap.com.

It's signed up over 100 customers on its RippleNet payments network which includes financial giants like Santander, Standard Chartered, Axis Bank, MoneyGram, Yes Bank and BBVA.






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