WeWork close to collapse

Hanno Labuschagne

Hanno Labuschagne

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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 officer, and replaced him with an industry veteran boasting a reputation of saving troubled real estate companies.

[Bloomberg]
 
Only the first in line for the new millennial bubble that's popping. Next up e-hailing a streaming services.
 
Hot take:
It was never worth R679 billion to begin with.

Share price should never be used in the valuation of a company.

Use ETIBA or something related to a mix of revenue, assets and liabilities.
 
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Sapphiron said:
Hot take:
It was never worth R679 billion to begin with.

Share price should never be used in the valuation of a company.

Use ETIBA or something related to a mix of revenue, assets and liabilities.
Click to expand...
Don't come in with your logic! Investors gotta invest!!!
 
The company will be delisting and closing down in coming weeks.
 
xrapidx said:
Never heard of them before this series.

Amazing how easy it is to burn through huge amounts of money in some countries.
Click to expand...
Pretty fascinating story, the series is pretty accurate to the real life events. Recommended to anyone unless for some reason a person can’t stand JL.
 
Really close to bankruptcy now:
www.bbc.com

WeWork: Shares plunge after reports say firm is filing for bankruptcy

The firm was once seen as the future of the office, but it has been plagued by problems in recent years.
www.bbc.com www.bbc.com
Earlier on Tuesday, the company told the US financial regulator it had agreed with creditors to temporarily postpone payments for some of its debt.

The company, which as a private business was valued at $47bn (£38.7bn), has lost almost 98% of its stock market valuation in the last year.

WeWork is considering filing for bankruptcy in New Jersey, according to the Wall Street Journal, which first reported the story.
Click to expand...
 
WeWork fining for bankruptcy as early as next week — Wall Street Journal
WeWork Inc. plans to file for bankruptcy as early as next week, the Wall Street Journal reported Tuesday.

The company had one of the most dramatic trajectories of the last startup boom — reaching a valuation of $47 billion before a disastrous attempt at an initial public offering and challenges to its co-working model during the pandemic.

[Bloomberg]
 
companies like Regus have been doing similar things for decades and they even struggled. How did wework walk in and expect to do the same with no issues lol. It’s not an easy market at all.
 
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