Adam Neumann and a WeWork location in Detroit (Credit: Getty Images) With a blockbuster regulatory filing this month, WeWork raised more questions about its impending IPO than it answered. Perhaps no stakeholders read the filing more closely than its own landlords. “There were certain things in that report I would rather have not seen,” Rory […]
Behind the curtain of WeWork’s all-male board of directors
From left: Lewis Frankfort of Flywheel Sports, Bruce Dunlevie of Benchmark, Ronald Fisher of Softbank, Mark Schwartz of Softbank, and John Zhao of Hony Capital (Credit: Stanford University; Softbank; Getty Images) WeWork recently revealed the makeup of its Board of Directors in advance of its much anticipated IPO, and the selections are already stirring up […]
Knotel joins the unicorn club with latest funding round
Knotel CEO Amol Sarva (Credit: iStock) Well, another unicorn has joined the co-working corral. Knotel raised $400 million, bumping up its valuation to at least $1.3 billion, according to Bloomberg. Investors this round included Kuwait-backed Wafra and Japan’s Mori Trust, Itochu and Mercuria Investment. Previous investors, including Newmark Knight Frank, Norwest Venture Partners and Sapir […]
WeWork landlord, spooked by scrutiny over IPO filing, sues to get out of lease
WeWork CEO Adam Neumann and 21-33 Irving Place (Credit: Getty Images and Google Maps) A landlord is suing to get out of a lease agreement with WeWork amid fears the co-working company can’t support its lease. The office space giant, whose parent the We Company is expected to go public next month, currently occupies multiple […]
Don’t worry, WeWork has only committed $47B to landlords
WeWork CEO Adam Neumann (Credit: iStock and Getty Images) WeWork’s future as a public company collided headlong this week with investors’ biggest concern: What happens in a downturn? Nine hours after the co-working company filed its IPO prospectus, the Dow plunged 800 points on Wednesday. With a possible recession looming, WeWork’s parent, the We Company, […]
WeWork’s IPO filing sheds light on a startup posting massive losses, while issuing massive loans to executives
WeWork CEO Adam Neumann (Credit: iStock) The We Company, whose imminent IPO stands to be one of the most hyped of the year, has laid bare its innerworkings. The WeWork parent company’s S-1 filing — filed Wednesday with the U.S. Securities and Exchange Commission — tells the story of a company experiencing massive growth while […]