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WeWork’s Valuation Has Dropped to $2.9 Billion, SoftBank Says
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The valuation of WeWork has tumbled to $2.9 billion amid the coronavirus pandemic and its ongoing business struggles, a tiny fraction of its peak when the office-sharing company was among the world’s leading startups.
WeWork’s latest valuation was disclosed as SoftBank Group Corp., its largest shareholder, reported earnings on Monday. WeWork had been valued at $7.8 billion at the end of September after the Japanese company agreed to a bailout. Even that was far from its once-lofty $47 billion valuation.