We Co., the parent company of WeWork, has reportedly been burning cash a bit too rapidly.
As of June 30th, the New York-based company reportedly had about $2.5 billion in cash, but was also reportedly spending about $700 million per quarter, and would reportedly run out of money at that rate sometime after the first quarter of 2020, The Wall Street Journal reports. Chris Lane, an analyst at Sanford C. Bernstein & Co., projected that, if We keeps growing, it go through about $10 billion in cash between 2019 and 2022.
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