When the WeWork IPO went belly up, its primary investor, juggernaut SoftBank Group of Japan, through its Vision Fund, lost a staggering $4.5 billion. WeWork’s spectacular debacle is widely viewed as symptomatic of today’s iteration of irrational exuberance that plumps up “unicorns” — startups valued at $1 billion or more — without just cause. SoftBank’s … Continue reading WeWork Lessons for Startups
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WeWork CEO Adam Neumann steps down
WeWork’s co-founder and chief executive officer Adam Neumann has stepped down as CEO and will serve as non-executive chairman of the board, the company confirmed in a press release Tuesday following a report from The Wall Street Journal. WeWork’s vice chairman Sebastian Gunningham and the company’s president and chief operating officer Artie Minson will serve … Continue reading WeWork CEO Adam Neumann steps down
WeWork CEO Adam Neumann has reportedly cashed out of over $700 million ahead of its IPO
Adam Neumann, the co-founder and chief executive of the international real estate co-working startup WeWork has reportedly cashed out of more than $700 million from his company ahead of its initial public offering. The size and timing of the payouts, made through a mix of stock sales and loans secured by his equity in the company, … Continue reading WeWork CEO Adam Neumann has reportedly cashed out of over $700 million ahead of its IPO
The controversy over WeWork’s $47 billion valuation and impending IPO, explained
In social terms, WeWork — recently renamed the We Company — is one of the modern world’s least controversial high-flying private startups. Centered on the idea of providing flexible workspaces to individuals and small groups, the company has none of the myriad regulatory issues afflicting an Uber or an Airbnb. But purely considered as an … Continue reading The controversy over WeWork’s $47 billion valuation and impending IPO, explained
WeWork China raises $500M to triple the number of cities it covers
WeWork’s China business is getting a fresh injection of capital after it raised $500 million. The company entered China two years ago and today it covers Beijing, Shanghai and Chengdu with nearly 40 locations. It claims 20,000 members, and it is also active in Hong Kong, which technically falls under ‘Greater China.’ The new capital … Continue reading WeWork China raises $500M to triple the number of cities it covers
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