What to watch: We still don't know when the IPO road-show kicks off. Don’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 $ 47bn 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 questions about Axios according to the news site. It is worth remembering that the Vision Fund 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 $ 6bn at a valuation of $ 6bn and agreed to buy shares worth a further $ 1bn from employees 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 .
Don’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 $ 47bn 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 questions about Axios according to the news site. It is worth remembering that the Vision Fund 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 $ 6bn at a valuation of $ 6bn and agreed to buy shares worth a further $ 1bn from employees 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 .