WeWork Pushes Back I.P.O. After Chilly Reception From Investors | NYT

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"The company had been expected to hold its initial public offering within weeks. But in a statement released late Monday night, WeWork’s parent, the We Company, said that it anticipated the offering would be completed by the end of the year.

The decision comes after many investors had questioned the valuation of the company. WeWork had been privately valued at $47 billion in January, when SoftBank of Japan made a large investment. But the prospect of going public has focused attention on a business that is deeply unprofitable and will most likely remain so for years.

The We Company has been trying to rescue its public offering in a number of ways. On Friday, the company said it would reduce the power of its co-founder and chief executive, Adam Neumann, amid criticism of the business’s corporate governance."

WeWork Pushes Back I.P.O. After Chilly Reception From Investors | NYT