WeWork considers dramatic discount to the $47 billion IPO valuation

The We Company is under pressure to proceed with the IPO, despite the big valuation drop, to secure funding for its operations

WeWork owner The We Company may seek a valuation in its upcoming initial public offering of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved in January, people familiar with the matter said on Friday.

Were the We Company to press on with the IPO at such a low valuation, it would represent a major turning point in the venture capital industry’s growth over the last decade, which has led to the rise of startups such as Uber Technologies Inc, Snap Inc and Airbnb Inc.

It would mean that the We Company would be at