UK politicians barely bother to talk about the New York challenge. Trendy loss - making hard - working start - up WeWork is supposedly worth $ 20bn while the much larger 30-year - old IWG , which does make a profit , is valued at £ 2.8bn ( $ 3.6bn ) and will n’t land a profit . Despite a drop in pre - tax profits to £ 54.3 m over the first half , on any normal measure IWG would be worth more than WeWork , and the fact that a lot of potential investors have walked away , unprepared to pay a silly price , should send a message to WeWork that is it overvalued .
Trendy loss - making hard - working start - up WeWork is supposedly worth $ 20bn while the much larger 30-year - old IWG , which does make a profit , is valued at £ 2.8bn ( $ 3.6bn ) and will n’t land a profit . Despite a drop in pre - tax profits to £ 54.3 m over the first half , on any normal measure IWG would be worth more than WeWork , and the fact that a lot of potential investors have walked away , unprepared to pay a silly price , should send a message to WeWork that is it overvalued .