WeWork has sought bankruptcy protection after its bets on companies using more of its office-sharing space soured.
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WeWork will reportedly file for bankruptcy protection as early as next week as it struggles with massive debt.
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.
Well-known South African technology entrepreneur Stafford Masie, who was appointed as GM of WeWork South Africa last year, joins the podcast to talk about Covid-19, WeWork, the CSIR and more.
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.
Masayoshi Son struck a defiant tone after his SoftBank Group reported an enormous loss from investments in money-losing startups WeWork and Uber Technologies.