After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.
The move comes days after the We Company, WeWork's parent company,The company is expected to decide on Monday evening whether it will proceed with the IPO this week, sources told Reuters requesting anonymity because the matter is confidential.
The sources also told Reuters the We Company is considering delaying its initial public offering until October at the earliest, concerned that its stock market debut would be snubbed by many investors, people familiar with the matter said on Monday.curb CEO and founder Adam Neumann's voting powerThe company also eliminated a key provision that would have allowed Neumann's wife, Rebekah, to lead the search for his successor should he ever become permanently disabled or deceased.
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