Lower valuation: A WeWork office is seen in New York City. WeWork has slashed by more than half its valuation target after setting an ambitious goal for the fast-growing office-sharing startup, sources familiar with the company said. — AFP
NEW YORK: Office-sharing startup WeWork is pressing ahead with plans to go public despite lukewarm interest in its shares, three sources said, leaving its largest investor, SoftBank Group, with a stark choice: take a haircut or pony up even more cash.
The We Company, WeWork's parent, may seek a valuation as low as $15 billion to $18 billion in an initial public offering, down from the $47 billion value it commanded in the last private fundraising round in January, one source familiar with the situation said.
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