One of the big questions a private company faces when it goes public is valuation. What is it worth? In the case of The We Company, parent of the office rental startup WeWork, the answer is apparently a lot less than early investors had hoped. Several news reports said Thursday the company is now aiming for a valuation of $20 billion to $30 billion for its anticipated initial public offering. Just months ago, private investors valued the company at $47 billion. Potential investors have expressed concerns about WeWork’s business model and corporate governance. So given all the skepticism, why go public now?

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