WeWork is postponing its IPO

We Work’s parent company is postponing its plan to go public following a disastrous IPO attempt that resulted in its CEO stepping down.

“We have decided to postpone our IPO to focus on our core business, the fundamentals of which remain strong,” the company’s new co-CEOs, Artie Minson and Sebastian Gunningham, said in a statement Monday. “We have every intention to operate WeWork as a public company and look forward to revisiting the public equity markets in the future.”

This is a developing story. More to come…