Office-sharing startup WeWork takes SPAC route to go public in $9b deal

FILE PHOTO: A WeWork logo is pictured in the Manhattan borough of New York City, New York, U.S., October 4, 2019. REUTERS/Carlo Allegri

WeWork has agreed to go public through a merger with blank-check firm BowX Acquisition Corp, in a deal that values it at $9 billion, the office-sharing startup said on Friday.

It marks a steep drop from the $47 billion that WeWork was valued for a listing in 2019, ahead of a botched listing plan that imploded due to investor concerns over its business model and its founder Adam Neumann’s management style.

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