Co-working giant WeWork, part of The We Company, has reportedly been urged by its largest backer to delay a planned IPO. WeWork is the latest company that has faced questions about whether it will be able to raise enough money for an initial public offering. 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.