In less than one year, WeWork went from having a $47 billion valuation and being the darling of the venture capital world to needing an $8 billion infusion to avoid running out of money.
WeWork IPO
Latest in WeWork IPO
banking and finance
Video: How the WeWork investor got in trouble – Softbank
The disappointing valuation of WeWork and the poor performance of Uber and Slack on the stock market are raising concerns that the world’s largest tech investor could be in trouble
Adam Neumann
Video: WeWork withdraws IPO prospectus to focus on core business
WeWork’s co-chief executive officers Artie Minson and Sebastian Gunningham said the company will file a request to formally withdraw the prospectus for its proposed initial public offering.
Adam Neumann
WeWork founder Neumann: an unconventional leader steps aside
Adam Neumann, who will stay on as chairman, has faced questions over his perceived self-dealing, as well as the ability of his fast-growing company to become profitable
co-working spaces
Video: Why WeWork’s business model is risky
The We Co.’s public offering is expected to come as early as next month.
co-working spaces
WeWork is said to target September for $3.5 billion IPO
SoftBank Group is WeWork’s largest backer and has valued the unprofitable business at $47 billion