India’s unicorns find exit doors blocked
The hype is gone with the dramatic fall in valuations of WeWork and Uber. How would that impact India’s startups?
Bengaluru: WeWork, a fast-growing startup that has smartly dressed up the business of subleasing office space, is expected to list its shares in the following months. Earlier this month, various publications reported that WeWork may seek less than half of the $47-billion valuation it fetched in January in a private fundraising round. On Friday, Reuters reported that WeWork may consider a valuation as low as $10 billion, nearly a fifth of its present worth. Doubts are increasing whether the initial public offering (IPO) will happen on schedule.