There is lots of WeWork IPO buzz after the WSJ reported that the company may go public at a valuation at less than half its most recent private mark of $47 billion. Driving the news: It also revealed that CEO Adam Neumann recently met in Tokyo with SoftBank CEO Masayoshi Son to discuss either a cornerstone IPO investment or a private capital infusion that would allow WeWork to delay its IPO until next year. Yes, but don't bet on the delay. WeWork needs to go public in 2019 in order to receive a $6 billion credit facility, and multiple sources tell me that Neumann is willing to accept a major equity valuation slash. The big picture: On the valuation, it's important to remember that WeWork was valued at only $21 billion when it raised its Series G funding in mid-2017. That was the round led by SoftBank Vision Fund. What to watch: We still don't know when the IPO road-show kicks off. But, when it does, all eyes will be on Neumann. Those close to the process believe that there is lots of buy-side interest in the company, but more than a few outstanding questions about its leader. His performance in those hotel ballrooms could be worth billions.
Do n’t bet on the We Company delaying its IPO , as Axios reports that multiple sources have said Adam Neumann is willing to accept a significant cut in the company ’s valuation to get the deal done and secure the linked $ 6bn credit facility unless SoftBank decides to intervene and provide a further cash injection . Those close to the process believe there is plenty of buy - side interest in the deal , as well as a number of rumors about Neumann according to the news site . It is worth remembering that WeWork was valued at $ 21bn as recently as mid-2017 when SoftBank ’s Vision Fund led a series G funding round . The leap in valuation occurred in January this year when SoftBank , not the Vision Fund invested $ 1bn at a valuation of $ 47bn and agreed to buy shares worth a further $ 1bn from new and existing investors at a valuation of $ 20bn . Some market sources believe the $ 47bn valuation was , at least in part , designed to help SoftBank raise funds for Vision Fund II .