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NewsBreak: WeWork Parent Mulls Slashing IPO Valuation by Around 50% - WSJ

Published 2019-09-05, 09:16 a/m
© Reuters.

Investing.com -- The parent of office rentals company WeWork is considering slashing its valuation by around half ahead of its prospective IPO, the Wall Street Journal reported Thursday. The We Company, as it is known, had been valued at around $47 billion at its last round of private funding.

  • Report follows a largely critical reception for The We Company's IPO prospectus last month, which showed widening losses so far this year and no clear path to profitability.

  • IPO has been widely expected to happen this month.

  • Report comes a day after reports that the company had clawed back a much-criticized $5.9 million payment to CEO and founder Adam Neumann for the licensing of the word "We".

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