October 2019

WeWork Has Officially Pulled Their IPO Plans

The widely expected development was announced on Monday by company co-CEOs Artie Minson and Sebastian Gunningham. It follows the high-profile departure of WeWork co-founder Adam Neumann. Artie Minson, Sebastian Gunningham, WeWork Co-CEOs, via 'Forbes' WeWork parent company, the We Company, will continue to seek an initial public offering (IPO) by the end of the year. WeWork Management, via 'Forbes' WeWork's initial IPO valuation came in well under shareholder investment at $10 billion. The company's largest shareholder, Softbank, had invested $47 billion alone in the workspace company. The WeWork CEOs are attempting to save the company by raising funds and cutting costs.