WeWork has slashed by more than half its valuation target after setting an ambitious goal for the fast-growing office-sharing startup, sources familiar with the company said Thursday.
WeWork’s parent We company is eyeing a target market value of around $20 billion after hearing doubts about its prospects from potential investors over a $47 billion valuation, the sources said.
The startup launched in 2010 touts itself as revolutionising commercial real estate by offering shared, flexible workspace arrangements, and has operations in 111 cities in 29 countries.