WeWork is reportedly considering selling its stake in women's coworking space The Wing
- WeWork is considering selling its 23% stake in the women's coworking space The Wing, Bloomberg reported on Tuesday.
- WeWork's percentage of The Wing was worth over $58.8 million in June, according to WeWork's IPO filing.
- WeWork is reportedly looking to cut costs during the turmoil surrounding its shelved IPO and the resignation of cofounder Adam Neumann from his CEO position.
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WeWork reported in its IPO filing in August that it owns 23% of The Wing, worth over $58.8 million as of June. Based on that figure, The Wing is worth over $255.8 million in total.This is reportedly down from The Wing's valuation of around $400 million in December 2018 when it raised $75 million in its series C funding round led by Sequoia, a source familiar with The Wing told Bloomberg.
WeWork and The Wing both declined Business Insider's request for comment on the report.