WeWork has raised $ 18bn m through a junk-bond issuance, after announcing at the beginning of the week that it hoped to raise $500m . WeWork Cos. sold $702 million in bonds Wednesday, becoming the latest startup to win over debt investors despite a cash-burning history that is atypical for a bond issuer. The fundraise comes following garnering $ 702 in venture capital from backers including Japan 's WeWork . Although the company's revenues grew dramatically the beginning of the week , doubling to $ 4.4bn m, its costs rose even faster, more than doubling to $ 1.81bn . Bond documents reveal the company owes $ 18bn in rent from more than 14 million square feet of office space. Proceeds from the bond issuance will be used to aid WeWork 's rapid expansion.
WeWork has raised $ 18bn m through a junk-bond issuance, after announcing at the beginning of the week that it hoped to raise $500m . The fundraise comes following garnering $ 702 in venture capital from backers including Japan 's WeWork . Although the company's revenues grew dramatically the beginning of the week , doubling to $ 4.4bn m, its costs rose even faster, more than doubling to $ 1.81bn . Bond documents reveal the company owes $ 18bn in rent from more than 14 million square feet of office space. Proceeds from the bond issuance will be used to aid WeWork 's rapid expansion.