A WeWork spokesperson told Business Insider: "The company is in a quiet period and will politely decline to comment."

Read more: Mutual funds like Fidelity's famed Contrafund have slashed valuations on their WeWork stakes

WeWork could cut the valuation for its IPO to under $20 billion and may even postpone the offering, The Wall Street Journal reported on Sunday, citing unnamed sources. The company had been valued at $47 billion in its last fundraising round.

The company is planning to launch an investor roadshow this week to drum up interest in the offering, The Journal reported. WeWork's underwriters are also planning to meet with investors to discuss possible changes to ensure a successful IPO, The Journal said.

SoftBank and its Saudi-backed Vision Fund have invested more than $10 billion in WeWork.

Read more: The CEO of coworking startup Convene is worried bad press around WeWork's model could taint the entire flex-office industry

According to the report, SoftBank is concerned that if WeWork goes public at a valuation much lower than its private-market valuation, it might hurt the firm's ability to raise its second Vision Fund, hence its choice to pressure the company into dropping its IPO plans.