WeWork is reportedly considering selling its stake in women's coworking space The Wing
Sarah Jacobs/Business Insider
- 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.
- Visit Business Insider's homepage for more stories.
AdvertisementThis 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.
WeWork is looking to cut costs
WeWork and The WingAdvertisement
A coworking space for women
- MPs should put pressure on Centre to include Kerala's demands in central budget:CM
- Final stage of Budget 2021-22 commences with Halwa ceremony
- Farmers' Protest: Local eateries facing tough time due to free langars at Singhu Border
- Venture Capital funding in India hits $3.1 billion in Q4 of 2020, says KPMG report
- A scary proposal to use facial recognition and AI by an Indian state has experts fuming