WeWork has sought bankruptcy protection after its bets on companies using more of its office-sharing space soured.
Browsing: Adam Neumann
WeWork, the troubled co-working company on the brink of collapse, is moving forward with a one-for-40 reverse stock split.
The company is bleeding cash, and customers of its office rentals are cancelling their memberships in droves.
The tech bubble is popping, but not in the way anyone expected. After years of fretting that free-spending start-ups with unrealistic valuations would bring down the start-up economy on its own, a global pandemic is doing it in instead.
WeWork says it doesn’t expect to hit its 2020 financial targets as it grapples with the coronavirus outbreak.
SoftBank Group told shareholders of WeWork that it could withdraw from an agreement to buy $3-billion of stock in the co-working business, casting doubt on a deal that had been set to close in about two weeks.
SoftBank’s bad year goes well beyond WeWork. Investors are starting to get the feeling that whatever Masayoshi Son brings to the public is troubled.
In a remarkable fall from grace, the office-sharing company that Adam Neumann co-founded in 2010, the one he promised would elevate the world’s consciousness, is no longer his.
WeWork’s plan to go public, in one of the largest stock offerings of the year, has hit a wall. Now the company will see whether sacrificing its divisive leader can save a crucial fundraising effort.
Adam Neumann, the charismatic entrepreneur who led WeWork to become one of the world’s most valuable start-ups, is stepping down as CEO after a plan to take the company public hit a wall.