WeWork parent The We Company has been laying the groundwork for an IPO. The SoftBank-backed coworking firm was valued at $47 billion in its last fundraising round. But now it’s mulling a massive valuation cut, according to media reports.
WeWork CEO and cofounder Adam Neumann has been in the spotlight for his unusual pitches, accounting, and potential conflicts of interest, as well as far-flung investments with WeWork money.
Business Insider reports regularly on the latest developments at WeWork. You can read our stories by subscribing to BI Prime.
Here’s what we know about what’s going on inside WeWork right now:
Private wealth execs at JPMorgan and UBS told us they’re lending more against private shares. WeWork CEO Adam Neumann has borrowed from both.
WeWork’s attempt to tap junk-bond investors may not work this time: ‘Their borrowing model is seriously in question at this point’
WeWork is preparing to move into this massive, flashy Brooklyn building as its IPO plans crumble. We took a look inside.
WeWork’s shrinking IPO will erase billions from CEO Adam Neumann’s payday, but he’ll still likely come out a multibillionaire
Mutual funds like Fidelity’s famed Contrafund have slashed valuations on …read more
Source:: Businessinsider – Finance