WeWork reportedly plans to move forward with its IPO, and the roadshow could begin as early as Monday

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We Company CEO Adam Neumann.

• WeWork could begin its IPO roadshow as soon as Monday, September 16, based on a report from CNBC.
• Recent reports indicate that The We Company, WeWork's parent company, has cut its projected valuation from $47 billion to less than $20 billion due to a lack of interest from investors.
• Softbank, WeWork's largest outside shareholder, asked the company to delay its IPO process and could face a multi-billion-dollar write-down if The We Company debuts with a valuation between $15 and $20 billion as reported.
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WeWork will proceed with its IPO plans and could begin courting investors as early as next week, according to a new report from CNBC's David Faber and Michael Sheetz.

WeWork rebranded itself as The We Company earlier this year to prepare for its IPO and filed its S-1 in August. However, the company has faced increased scrutiny regarding the long-term viability of its real estate investments and co-working space business.

Skepticism from investors has reportedly led WeWork to set its valuation at about $20 billion for the IPO, less than half of the $47 billion valuation the company announced earlier this year. WeWork's S-1 revealed that the company is not profitable- in 2018 The We Company generated $1.8 billion in revenue but suffered $1.9 billion in losses.

Read more: WeWork isn't even close to being profitable - it loses $219,000 every hour of every day

Softbank, The We Company's largest outside shareholder, reportedly asked the company to delay its IPO. SoftBank and its Saudi-backed Vision Fund have invested more than $10 billion in WeWork, and CNBC notes that it could face a multi-billion-dollar write-down if WeWork makes it debut with a valuation between $15 and $20 billion.

The We Company did not immediately respond to Business Insider's request for comment.

WeWork's roadshow to seek out potential investors could begin as early as Monday, September 10, CNBC reports.