WeWorks valuation drops to $2.9B

WeWork’s valuation has dropped to $2.9 billion — a far cry from $47 billion at its peak. The office-space provider was most recently valued at $7.8 billion in the fall, after it agreed to a takeover by SoftBank following a failed attempt to go public. SoftBank, WeWork’s biggest backer, disclosed the valuation in its earnings on Monday, Bloomberg reported. WeWork’s business model has been under pressure because of the coronavirus pandemic, as stay-at-home orders across

source https://therealdeal.com/2020/05/18/weworks-valuation-drops-to-2-9b/