WeWork’s parent, the We Company, is dramatically scaling down expectations for the pricing of its intended IPO, report the Wall Street Journal and Reuters.

While WeWork’s last funding round was made at a valuation of $47 billion, the reported valuation being put on the company for its IPO is around $20 billion say the reports.

After the Uber IPO at a valuation of $82 billion compared to a 2018 valuation of $120 billion, and Lyft whose shares have fallen 30% below its IPO price, question marks are being raised over the valuations of many a Silicon Valley unicorn.

Arm’s owner Softbank has invested $10.65 billion in WeWork. Softbank and its associated companies are thought to own 29% of WeWork.

Questions have been raised over WeWork’s payment of $17 million for leases owned by WeWork CEO Adam Neumann, and Neumann has felt obliged to repay a $5.9 million fee paid to him by the We Company for the right to use the trademarked word ‘We’.

After his stock vests following the IPO, it is said that Neumann will hold 29% of We’s stock.