The owner of Wework is preparing a huge cut to its $47 billion valuation, possibly more than half, to quell investor concerns about the scale of its losses and the vulnerability of its business model.
The planned cut raises new questions about the lofty valuations being attached to high-profile technology companies, given the flops of Uber, Lyft and others that debuted this year. Shares in the loss-making taxi-hailing services, hit all-time lows this week.
The owner of Wework is preparing a huge cut to its $47 billion valuation, possibly more than half, to quell investor concerns about the scale of its losses and the vulnerability of its business model.
The planned cut raises new questions about the lofty valuations being attached to high-profile technology companies, given the flops of Uber, Lyft and others that debuted this year. Shares in the loss-making taxi-hailing services, hit all-time lows this week.
Click here to read the full article (£)
