Goldman Sachs had sold some of its stake in WeWork even as the investment bank was pitching the co-working company for a highly lucrative IPO mandate.
| | | | Goldman Sachs had sold some of its stake in WeWork even as the investment bank was pitching the co-working company for a highly lucrative IPO mandate.
The bank unloaded shares at two earlier fundraising rounds when WeWork mega-investor SoftBank gave employees and earlier investors a chance to sell their stake, according to a person with knowledge of Goldman's actions.
The bank assigned a "much more modest" valuation to the company than the $47 billion value set earlier this year, or the $61 billion to $96 billion range the firm's investment bankers told the company's top execs it might get in an IPO.
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