Home / Business / WeWork: the latest news on 2019's two-run by a company

WeWork: the latest news on 2019's two-run by a company

This summer, WeWork was expected to have one of the highest-profile IPOs ever. But then it filed its S-1 paperwork, and everything came down.

The S-1 itself was a journey – it started with the phrase "We devote this to our energy", revealed the myriad ways that own CEO Adam Neumann was a risk factor and outlined a succession plan that, if anything, happened to Neumann, let his wife or family manager choose a new CEO. The IPO collapsed shortly after. Then came a wild profile of Neumann, with a story about how he once brought a grain box full of weeds on a private jet to Israel. Under continued criticism, Neumann eventually quit ̵

1; and left with nearly $ 1.7 billion as part of a buyout from SoftBank, which has since taken over the majority ownership of WeWork.

All this happened in just over two months. Now SoftBank is trying to pick up the pieces of WeWork and move on – and that can be a difficult road ahead. Follow all the news and updates about the 2019 double opera of a company here.

Source link