WeWork Cos. Inc. parent The We Co. will proceed with an investor roadshow for its planned IPO as early as next week despite concerns over the company's valuation, Reuters reported, citing people familiar with the matter.
The coworking giant, which plans to list its shares on the NYSE under the symbol "WE," previously considered reducing the valuation of its IPO to approximately $20 billion. The company was valued at $47 billion after it secured an additional $2 billion investment from Japan's SoftBank Group Corp. in January.
We's investors are reportedly skeptic over it's lack of a roadmap to profitability in addition to co-founder Adam Neumann's control over the company's governance. Sources said that a final decision on beginning the roadshow has not been taken.
An IPO roadshow is a period of time when companies solicit feedback from investors.
