Co-working giant WeWork, part of The We Company, has reportedly been urged by its largest backer to delay a planned IPO. US's Softbank is said to be concerned by weak trading that's dragging on its other investments, including Uber and Slack. SoftBank was among WeWork's supporters during a funding round earlier this year, which valued the loss-making firm at $47bn. Anonymous insiders said the investor's reluctance to back WeWork further could force it into an IPO with a lower-than-expected valuation of $15bn-$18bn.
Co-working giant WeWork, part of The We Company, has reportedly been urged by its largest backer to delay a planned IPO. Japan's Softbank is said to be concerned by weak trading that's dragging on its other investments, including Uber and Slack. SoftBank was among WeWork's supporters during a funding round earlier this year, which valued the loss-making firm at $47bn. Anonymous insiders said the investor's reluctance to back WeWork further could force it into an IPO with a lower-than-expected valuation of $15bn-$18bn.