WeWork eyes Nasdaq: Report
The parent company of office space-startup WeWork “plans sweeping changes” to its governance and will list on the Nasdaq, reports The Wall Street Journal, which cited anonymous sources. The planned initial public offering has been under heavy scrutiny by investors, with SoftBank — WeWork's biggest outside shareholder — reportedly pushing the company to shelve the IPO following reports of a shrinking valuation, said the Financial Times last week. The startup is expected to start trading the week of Sept. 23.
President - Breckenridge Landscape
The fact that Wework is having to slash its IPO valuation just shows that valuations that are based solely on money raised are phantom valuations.