CoreWeave Scales Back IPO Ambitions, Targets Lower Valuation and Reduced Funding
Summary
CoreWeave, a tech company initially eyeing a $30 billion IPO valuation, has scaled back its ambitions, now targeting a valuation closer to its $23 billion private market level and slashing its planned fundraising by half to $1.5 billion.
Key Points
- CoreWeave is planning to seek a lower valuation than the $30 billion originally planned for its IPO
- The company will aim for a valuation closer to its $23 billion private market valuation from a year ago
- CoreWeave will also slash the amount it plans to raise in the IPO by half, to $1.5 billion