WeWork’s valuation could fall to below $15 billion in IPO, down from $47 billion private valuation.
WeWork's valuation may fall below $15 billion, CNBC's David Faber reported Friday. Its private valuation was as high as $47 billion.
The We Co. is changing its high-vote stock from 20 votes per share to 10 votes per share, curtailing WeWork CEO Adam Neumann's voting power. The 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. Instead, WeWork's board would pick a successor. The filing states that "no members of Adam's family will sit on our board."
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