WeWork's We Company To List On Nasdaq

WeWork's We Company has filed S-1 paperwork and plans to list on the Nasdaq.

We will officially begin marketing the shares to investors next week ahead of a trading debut the week of Sept. 23, according to The Wall Street Journal. The company is also expected to set a price range next week.

We and its advisers are targeting a valuation that could slip below $20 billion, which is lower than the $47 billion valuation set in a funding round earlier this year.

In a recent interview with CNBC, Yale's management expert Jeff Sonnenfeld openly criticized WeWork. He explaining it has raised more than $12 billion in cash throughout its history, and it's unclear how the company "pumped up" that number to its valuation of nearly $50 billion

Sonnenfeld said WeWork's valuation explosion is a "form of a Ponzi scheme," as the business loses money for each new client it gains.

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