SoftBank executives discuss trimming WeWork offer
The discussions at SoftBank center around shrinking a $3 billion tender offer for WeWork shares owned by founders, employees and investors, according to people with knowledge of the talks. Such a move would be designed, at least in part, to limit the amount paid to co-founder Adam Neumann, said the people, who requested anonymity because the matter is private.
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WeWork may lay off thousands
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How WeWork founder Adam Neumann failed up
How founder of WeWork, Adam Neumann, walked out of the failing company with a massive payout.
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When asked about the development, a SoftBank spokesperson said, “We don’t comment on speculation.”
Adam Neumann, the boy who burst the Unicorn bubble
WeWork's Neumann saw a flawed system and his combination of greed & smarts allowed him to exploit it.
WeWork losses widen to $1.25 bln amid record office space expansion
WeWork shelved its plans to go public on Sept. 30 after investors grew wary of its losses, business model and corporate governance that had forced former CEO and co-founder Adam Neumann to resign a week earlier.
The cult of the silicon valley founder is fading
Once celebrated, charismatic founders are hurting the brands they built. What can Indian founders learn from the meteoric rise and fall of their Western counterparts?
WeWork begins search for a new CEO: Sources
SoftBank last month spent around $10 billion to take control of WeWork, rescuing the company from potential bankruptcy after it failed to complete an initial public offering, which also led to Neumann's departure.
Adam Neumann’s era of excess and eccentricity is over at WeWork
Neumann will walk away with as much as $1.2 billion as well as a $500 million credit line from SoftBank.
Here’s how SoftBank says it’ll fix WeWork and turn it profitable
In a mix of bravado and practicality that’s vintage Son, the billionaire opened his speech by describing the earnings announcement as “not good at all.” He then said that turning around WeWork would be “simple” and that his team had a plan for it.
SoftBank’s Son defiant as WeWork triggers $6.5 billion loss
SoftBank recorded an operating loss of 704.4 billion yen ($6.5 billion) after writedowns in WeWork and other investments, the Japanese company’s first such loss in 14 years. Its $100 billion Vision Fund lost 970.3 billion yen.
SoftBank Group's profit plunges, Son admits 'poor' decisions
The firm said first-half operating losses from its Vision Fund and Delta Fund came to 572.6 billion yen, largely "due to a decrease in the fair values of investments including Uber and WeWork and its three affiliates".
Co-working space cos go on fundraising spree to fuel growth
Large players in India in talks with institutional investors to raise money to fund expansions. Leasing activity rose by more than 30% annually, crossing 47 million sq. ft. during January-September this year, says CBRE South Asia Q3 office report.
SoftBank wires $1.5 billion to WeWork before cash runs out
WeWork’s need for funds was much more dire than initially anticipated based on its IPO prospectus, which became public in August.
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