WeWork’s new crisis: ‘Workplaces will never be the same after this’
WeWork said last week it has access to billions of dollars in debt, but as of September, the company was losing more than $400 million a month. WeWork’s largest backer, SoftBank Group Corp., is now threatening to unravel a deal to buy stock from other shareholders.
SoftBank won’t buy $3 billion in WeWork stock
Two weeks ago, SoftBank, which has already poured billions of dollars into the company, threate...
SoftBank’s nuclear option puts the 'you' back in to WeWork
Without purchasing that stake, SoftBank would be left sharing control with the sam...
Co-working companies offer sops, waive rents to retain clients
Several companies said that clients plan to invoke the force majeure, or 'Act of God', clause in their agreements.
SoftBank to sell up to $41 bln in assets to expand share buyback, cut debt
The move comes as SoftBank's share price has been hammered by investor skepticism over the outlook for CEO Masayoshi Son's bets on startups like WeWork and Uber.
Co-working space providers seek rent relief
Co-working players said their clients wont be able to pay rent on time and many have asked for concessions.
SoftBank lays ground to abandon $3 bln WeWork tender offer
In a notice to WeWork shareholders, SoftBank cited ongoing investigations into WeWork's business by the U.S. Securities and Exchange Commission and the U.S. Department of Justice, as well as a delay in recapitalizing WeWork's joint venture in China, as obstacles to the tender offer being completed.
Masa Son unveils a $41 billion asset sale to silence his critics
Son is trying to salvage his reputation as one of the world’s foremost tech investors, a name based largely on a prescient early bet on Alibaba, which grew to dominate e-commerce in the world’s No. 2 economy. But he’s struggled since to match that success, after sinking money into a string of struggling startups from Uber Technologies Inc. to WeWork and Oyo Hotels.
Son’s empire wobbles as credit rout hits SoftBank debt load
The company is more vulnerable because of missteps at the Vision Fund, the $100 billion investment vehicle that Son set up to become the new centerpiece of his empire.
SoftBank plans $4.8 billion buyback after Elliott’s call
Elliott wants SoftBank to set up a special committee to review processes at the Vision Fund, the world’s largest single investment pool for tech startups.
SoftBank falls most in 7 years on concerns over coronavirus, investment in startups
SoftBank's investments include a number of startups that are restructuring or scaling back: WeWork is recovering from its failed IPO last year, Oyo Hotels is cutting 5,000 jobs after its business in China crumbled. Uber is reducing operations and costs in search of profitability.
SoftBank CEO faces tougher questions in US after market plunge
The Vision Fund is recovering from a series of stumbles. WeWork’s plan to go public last year imploded, forcing SoftBank to arrange a rescue financing of $9.5 billion in October. Uber, despite a recent surge, is trading about 24% below last year’s offering price
WeWork names real estate veteran Sandeep Mathrani its new ceo
WeWork said the new CEO will report to Executive Chairman Marcelo Claure, an executive at SoftBank Group Corp., which committed billions of dollars to WeWork in a rescue package last fall.
Senior WeWork executive exits after improper office relationship
Reeling since its abandoned public offering, WeWork has seen its culture come under scrutiny, stung by claims of discrimination during the tenure of co-founder Adam Neumann. The former CEO is known for his recreational marijuana use and for encouraging drinking -- particularly tequila -- at work events.
From Oyo to WeWork, layoffs come in droves as the startup boom deflates
Investments in young companies have fallen, with 2,215 startups raising money in the United States in the last three months of 2019, the fewest since late 2016, according to the National Venture Capital Association and PitchBook, which track startups.
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