Chinese apartment rental start - ups owned by Phoenix Tree Holdings and Q&K International ( Qingke ) are seeking IPOs . Both companies , which have a business model similar to WeWork , have offices in the US and are expected to raise $ 100 m . Both companies also have mounting losses and their financials suggest they will run out of cash in less than a year .
Chinese apartment rental start-ups owned by Phoenix Tree Holdings and Q&K International (Qingke) are preparing IPOs. Both companies, which have a business model similar to WeWork, have filed in the US and are seeking to raise $100m. Both companies also have mounting losses and their financials suggest they will run out of cash in less than a year.