wework

  1. Hanno Labuschagne

    WeWork co-founder still a billionaire despite company's collapse

    WeWork co-founder still a billionaire despite company's collapse WeWork Inc. never figured out how to make money. Adam Neumann sure did. The office-leasing business declared bankruptcy this week, two years after finally going public minus its infamous co-founder. [Bloomberg]
  3. Hanno Labuschagne

    WeWork close to collapse

    WeWork close to collapse For the past four years, WeWork Inc. has been trying to deliver a turnaround story — one in which the rowdy co-working startup transforms into a stable, profitable public company. It sloughed off Adam Neumann, its rambunctious co-founder and former chief executive...
  4. Jan

    The WeWork hype train

    All aboard the hype train — The WeWork Story WeWork has lost 97% of its value since it hit its peak in 2019, when there was tremendous hype around the company. Adam Neumann and Miguel Mckelvey co-founded WeWork in 2010 as a community office space company similar to Regus.
  5. J

    WeWork's chief communications officer resigns

    WeWork's chief communications officer resigns WeWork is losing its chief communications officer, concluding a six-month tenure marked by a constant stream of bad news. Jimmy Asci, who had joined the New York-based co-working company in April, resigned last Wednesday, according to a person...
  6. J

    How much it costs to rent a WeWork office in Joburg and Cape Town

    How much it costs to rent a WeWork office in Joburg and Cape Town Earlier this year, WeWork began rolling out its shared office spaces in Johannesburg and Cape Town. The company now has three active office spaces across South Africa - two in Johannesburg and one in Cape Town.
  7. J

    WeWork share price drops after it postpones IPO

    WeWork share price drops after it postpones IPO WeWork pushed back its much-awaited initial public offering as the company seeks more time to allay investor doubts over its governance, slashed valuation and business prospects. The offering is likely to be postponed until at least October...
  8. J

    WeWork's IPO might be a disaster

    WeWork's IPO might be a disaster The We Co. roadshow is set to begin this week, perhaps as soon as today. Such corporate processionals through the ranks of blue-blooded Wall Street institutions are usually a triumph for buoyant, young companies. WeWork’s roadshow, on the other hand, will...
  9. J

    WeWork learns that it's not Facebook

    WeWork learns that it's not Facebook The message to Adam Neumann was clear: You’re not Zuckerberg. Over the past month, as Neumann’s grandiose plans for We Co. started to fray, bankers began warning that he would have to loosen his iron grip on the company. [Bloomberg]
  10. J

    WeWork overhauls board to push IPO

    WeWork overhauls board to push IPO WeWork announced a series of governance changes to assuage investor concerns as it pushes ahead with its embattled listing on Nasdaq. The company will change its high-vote stock from 20 votes to 10 votes a share, and no member of co-founder’s Adam Neumann’s...
  11. J

    WeWork squeezes people into its offices

    WeWork squeezes people into its offices Here’s a superlative that didn’t get much attention in WeWork’s 220-page prospectus for its planned initial public offering: it jams more people into its spaces than just about any other commercial landlord. In London, WeWork provides about half of the...
  12. J

    WeWork plans to file for $3.5-billion IPO this year

    WeWork plans to file for $3.5-billion IPO this year WeWork Cos. is looking to go public in September, people familiar with the company’s plans said, in what’s expected to be the second-biggest initial public offering of the year. The company is targeting a share sale of about $3.5 billion...
  13. J

    WeWork expands to Cape Town

    WeWork expands to Cape Town WeWork has announced that it will open its first office in Cape Town, as well as a second Johannesburg office in Sandton. The Cape Town office will comprise four floors in the 80 Strand Street office block, which is situated in the Cape Town CBD.
  14. J

    WeWork's awesome offices coming to Johannesburg

    WeWork's awesome offices coming to Johannesburg WeWork announced that it will open its first shared workspace in South Africa - and Africa - at The Link in Rosebank, Johannesburg. The US-based workspace provider will partner with Redefine properties to launch its first location on the...
  15. J

    WeWork rival raises $152 million from investors

    WeWork rival raises $152 million from investors Convene, a New York-based real estate startup that specializes in flexible meeting and working space, has raised $152 million from investors including Revolution Growth, Brookfield Property Partners LP and the Durst Organization, its co-founders...
  16. J

    The numbers behind WeWork's rapid growth

    The numbers behind WeWork's rapid growth WeWork is tapping the bond market for the first time and in doing so, has provided a rare glimpse into the startling numbers behind its break-neck expansion. [Bloomberg]
  17. Newsfeed

    Startup which rents desk space gets $20-billion valuation

    Startup which rents desk space gets $20-billion valuation WeWork Cos. raised $760 million in a funding round that places the co-working business among the world’s five most-valuable technology startups.
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