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Does SoftBank want WeWork to postpone its I.P.O.?

As WeWork continues to struggle with a cool reception to its forthcoming initial public offering, one of its biggest investors, SoftBank of Japan, is reportedly urging the company to put the stock sale on hold, Eric Platt and James Fontanella-Khan of the FT report.

WeWork has weighed proceeding with the I.P.O. at a low valuation. It has considered going as low as $15 billion to $20 billion, the FT reports, citing unnamed sources. That’s a far cry from the $47 billion that SoftBank’s most recent investment valued the company at earlier this year.

SoftBank has a big reason for wanting to avoid that. It’s in the middle of raising its next Vision Fund, which it hopes will surpass the current one’s $100 billion in assets. Having a prominent investment from the first Vision Fund suffer a huge markdown could hurt its fund-raising efforts.