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.
Browsing: WeWork
After a 17-month hiatus, the sixth season of HBO’s Silicon Valley premieres on Sunday night in the US. The show is at the very top of its game after an uneven run.
WeWork is considering a bailout that will hand control of the co-working giant to SoftBank Group, according to a person familiar with the matter.
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.
With the drama of a palace coup, some directors are considering a plan to encourage the brash co-founder of the once high-flying real estate start-up to step down as chief executive.
WeWork pushed back its much-awaited initial public offering, and said it now expects to complete the listing by the end of this year as concerns mount over the company’s governance, valuation and business prospects.
As WeWork continues its stumble to the public markets, some prognosticators see this moment as something more significant: that a WeWork belly-flop portends the end of the unicorn era in Silicon Valley.
What to make of WeWork, the fashionable, unprofitable, metaphysically inscrutable US$47-billion office-rental company that intends to “elevate the world’s consciousness” and potentially go public this year?
WeWork fails on nearly all the criteria which determine whether a tech start-up is likely to be successful in the long term.