In August 2019, The We Company filed S-1 paperwork to go public.[54] Media coverage highlighted the company's heavy losses revealed by the S-1 filing disclosures,[55] while analysts expressed misgivings over WeWork's ability to become profitable in the future. Analysts publishing on investment research network Smartkarma wrote: "We cannot even fathom the contortions that would be necessary to articulate a path to profitability here," and noted they did not expect the company's valuation to reach far beyond $20 billion.[56][57]