WeWork considers seeking valuation of up to $30bn in US IPO

📆 9/5/2019 6:45 PM
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That would mark a decline on the $47bn valuation the office-rental startup achieved earlier in 2019 from an investment by SoftBank, its biggest backer

The WeWork logo is displayed on the entrance of a co-working space in New York City, New York U.S., January 8, 2019. Picture: REUTERS / BRENDAN MCDERMID

The range could end up closer to $20bn, said one of the people, asking not to be identified because the information is private. Potential terms for the share sale are still being discussed, and the eventual valuation could change depending on investor demand, the people said. WeWork’s IPO plans filed last month were greeted by sometimes blistering criticism for the way it obscured key details about the economics of the business. The New York-based startup headed by Adam Neumann leases and owns spaces in office buildings, which it decorates and then rents out to companies from tiny startups to large corporations. It has raised more than $12bn since its founding nine years ago but has never turned a profit.

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