WeWork in Talks to Sell Unit for a Lot Less Than It Paid 8 Months Ago

WeWork, seeking to cut costs and unload assets, is in discussions to sell one of its business units for less than a quarter of the price it paid eight months ago, according to people familiar with the talks.

A group of investors and technology executives are negotiating a purchase of the Managed by Q unit from WeWork that would value the software business at less than $55 million, said the people, who asked not to be identified because the negotiations are private. Dan Teran, a founder of Managed by Q who helped sell the business to WeWork this year for a reported $220 million, is part of the group.