The move was widely expected after turnover in the company.
After weeks of turmoil—and less than a week after the departure of embattled cofounder Adam Neumann—WeWork has filed to officially withdraw its planned initial public offering.
In a widely expected move, WeWork cancelled its IPO on Monday, submitting a request with the Securities and Exchange Commission to officially withdraw its S-1 registration, initially filed in August.
WeWork’s biggest shareholder, Softbank, invested in the real estate and workspace firm at a $47 billion valuation in January. But investor skepticism led the company to consider a potential IPO with a valuation as low as $10 billion, and it now looks to have scrapped the idea altogether—although not necessarily in the long run.“We have every intention to operate WeWork as a public company and look forward to revisiting the public equity markets in the future,” management said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WeWork’s New Leadership Officially Cancels IPO PlansThe move was widely expected after turnover in the company.
Read more »
“A New Agency, A New Era”: Jeezy Is Launching His Own Sports Agency, Sports 99Jeezy Is Launching His Own Sports Agency To Represent Athletes If anyone in this world is a businessman, it’s Jeezy, and he’s looking at expanding his portfolio by getting into a whole …
Read more »
Rachael Ray Has A New Cookbook, A New Show, And Soon, You Can Order Her FoodRachael Ray has a bunch of new projects coming out this year. Most of them are exciting, but one is somewhat problematic.
Read more »
New York Sex-Abuse Law Brings Forth Hundreds of New CasesAn analysis by The Wall Street Journal finds more than 700 lawsuits were filed since Aug. 14, when the state of New York opened a one-year window during which victims of childhood sexual abuse could sue their alleged abusers no matter how long ago the abuse occurred.
Read more »
American Express updates Delta SkyMiles cards with limited time welcome offers and new benefitsAmerican Express announced today the relaunch of the consumer and business Delta SkyMiles® American Express Cards. The re-vamped cards will offer more ways to earn miles and feature new travel perks.
Read more »