WeWork reportedly is leaning toward delaying its IPO
WeWork will likely delay its planned public offering until at least October, The Wall Street Journal reported Monday, citing unnamed sources.
The company will not begin its planned roadshow this week, according to The Journal. A roadshow is the name for the series of meetings startups have with potential investors immediately prior to a public offering.WeWork made its IPO paperwork public last month and had reportedly been trying to debut on the markets by the end of this month.
But the company saw significant pushback from investors, who were reportedly concerned about its valuation, business model, governance, and potential resilience in a recession. Last week, the company was considering going public with a market capitalization of as little as $10 billion, less than a quarter the $47 billion valuation SoftBank conferred on it as part of an investment in January.