WeWork seeks $20 billion-$30 billion in IPO valuation: Streetinsider citing Bloomberg

Business

FILE PHOTO: The WeWork logo is displayed on the entrance of a co-working space in New York City, New York U.S., January 8, 2019. REUTERS/Brendan McDermid

(Reuters) – WeWork owner The We Company is seeking a valuation of between $20 billion and $30 billion in its planned initial public offering, Streetinsider.com reported on Thursday, citing Bloomberg, well below the $47 billion it was worth at the start of the year.

The IPO will be a key test of investor appetite for fast-growing, money-losing start-ups, at a time when global concerns about the potential for recession and the trade war between the United States and China are fueling stock market volatility.

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Reporting by Bharath Manjesh in Bengaluru and Joshua Franklin in New York; Editing by Anil D’Silva

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