The coworking startup was reportedly pursuing a $10 billion valuation for a public debut, a significant cut since its $47 billion private valuation.
have spooked potential investors. WeWork has amended its SEC filings twice already to address several of those concerns, but it might not be enough.for its IPO, drastically lower than the $47 billion valuation it last fetched in private markets. A $10 billion public valuation would be only slightly above the total amount of funding WeWork has taken in as a private company: about $8.
It's a striking turn of events for WeWork, which has experienced a meteoric rise since its founding in 2010 by CEO Adam Neumann, his wife Rebekah Neumann, and Miguel McKelvey. The New York-based startup leases office space to other startups and has expanded to more than 100 cities in 29 countries — a turbo-charged expansion plan that has required WeWork to continually raise capital as it burns through billions of dollars.
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