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In this week's episode of WeCrashed Adam's company went public, filing its IPO at the end, but being unaware of the consequences.
The episode revolved around Adam trying to get more investors but eventually giving in and filing for an IPO for WeWork. He then finalized the bid from JP Morgan Chase and celebrated the company's worth, not realizing that going public would come at a cost to him. The Power of We was directed by Tinge Krishnan, and written by Eva Anderson and Eleanor Burgess.
Let's dissect and understand the ending of this episode of the AppleTV+ series.
Note: This article contains spoilers.
Analyzing the end of WeCrashed episode 7
As the seventh episode of WeCrashed progressed towards the end, viewers saw Adam taking WeWork public in a TV announcement. This was followed by giants like Goldman Sachs, JP Morgan Chase and Morgan Stanley competing to bag the company. After hearing everyone's pitch and their bids, Adam decided to go with JP Morgan Chase.
The only thing left for the company to do post filing their IPO is to have the S-1 document made, for which WeWork does not have to do anything and leave it to the legal team to figure it out. However, Adam and Rebekah chose to take over and create their unconventional version of the document, which included pictures and how WeWork is a feeling and not just a company.
At the review meeting with the board, Cameron raised his concerns about the WeWork S-1 document, critiquing it only to get brushed off by Adam. Cameron then turns to Bruce, who remains silent and does not protest the document, hinting that he is on Adam and Rebekah's side.
This episode of WeCrashed ended with the same Wall Street commentator from the beginning of the episode, after he received a copy of WeWork's S-1 document. After reading the document, he pens down a blog post about the same, which gets picked up by a Wall Street Journal reporter.
This means that Adam and Rebekah's document is now public and official, and everyone has mixed reactions, mainly amused ones. This also means it might lead to the news article references in the opening episode of WeCrashed.
What is WeWork's valuation for the IPO?
Viewers of the show are aware that Adam carved his way, with lies mainly when it came to revealing WeWork's worth. With the help of SoftBank, the company's valuation reached $47 billion.
After the final round of negotiations, Adam closes the valuation of WeWork at $63 billion. He also added a customary 18 cents to the figure as a callback to when the company's first investor did the same as a sign of luck, but viewers know how that turned out. What they can now look forward to is Adam’s self-serving and questionable spending habits becoming public knowledge.
Learn more about the fall of WeWork in the upcoming finale of WeCrashed. Stream the latest episode on AppleTV+.
