WeWork delays going public, as some critics—including a 2020 presidential candidate—question its valuation.
After widespread reports that the coworking startup WeWork was going to go public imminently, the company announced in a statement that it was delaying its initial public offering until some time by the end of 2019.
While trendy and offering amenities such as stocked kitchens, pet-friendly locations and"art-infused buildings," some critics have questioned the company's actual value should they go public. Entrepreneur and 2020 presidential candidate Andrew Yang tweeted that this"valuation is utterly ridiculous." Rep. Alexandria Ocasio-Cortez, D-NY, cited WeWork's transition to the public market as an example of a potential risk for everyday investors at a hearing last week of the U.S. House Committee on Financial Services’ Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets.
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