This translation has been automatically generated and has not been verified for accuracy.WeWork owner The We Company has postponed its initial public offering , walking away from preparations to launch it this month after a lacklustre response from investors to its plans.
Reuters reported last week that We Company might seek a valuation in its IPO of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved in January. It would have meant that We Company would be valued at less than the $12.8 billion in equity it has raised since it was founded in 2010, according to data provider Crunchbase. And it would have been a blow to its biggest backer, Japan’s SoftBank Group Corp, at a time when it is trying to amass $108 billion from investors for its second Vision Fund.
The last time SoftBank invested in We Company was in January at the $47 billion valuation, injecting $2 billion of cash. It had been pushing the company to delay its IPO.