WeWork is dramatically slashing its IPO valuation because of weak demand, and the company will not be going public next week.
Even at a $25 billion valuation, the demand is not there, according to the sources. WeWork last raised money at a $47 billion valuation in the private market.
WeWork rents out work spaces to start-ups and other businesses and was founded in 2010 by CEO Adam Neumann. According to its website, WeWork is "committed to elevating the collective consciousness of the world by expanding happiness and unleashing every human's superpowers."
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