Deals
Co-Working Startup the Wing Saw Its Worth Shrink in WeWork Deal
- WeWork lost money on its bet on the women-focused company
- Venture arm of talent agency CAA is among the new investors
A The Wing co-working space in New York's Soho neighborhood.
Photographer: Hilary Swift/New York Times via Redux
This article is for subscribers only.
The Wing, a female-focused co-working startup, was valued at roughly $365 million in the heady days of 2018, before WeWork’s botched initial public offering cast a pall over the industry. Now, investors have pegged the Wing’s valuation at substantially less -- about $200 million -- according to people familiar with the matter.
In January, WeWork parent We Co., sold its stake in the Wing to a group of investors that included Hollywood talent powerhouse Creative Artists Agency.