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The Wing cofounders Lauren Kassan, left, and Audrey Gelman.
- WeWork is considering selling its 23% stake in the women's coworking space The Wing, Bloomberg reported on Tuesday.
- WeWork's percentage of The Wing was worth over $58.8 million in June, according to WeWork's IPO filing.
- WeWork is reportedly looking to cut costs during the turmoil surrounding its shelved IPO and the resignation of cofounder Adam Neumann from his CEO position.
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WeWork is considering selling its stake in the women's coworking space The Wing, Gillian Tan at Bloomberg reported on Tuesday.
WeWork reported in its IPO filing in August that it owns 23% of The Wing, worth over $58.8 million as of June. Based on that figure, The Wing is worth over $255.8 million in total.
This is reportedly down from The Wing's valuation of around $400 million in December 2018 when it raised $75 million in its series C funding round led by Sequoia, a source familiar with The Wing told Bloomberg.
WeWork and The Wing both declined Business Insider's request for comment on the report.