The WeWork IPO fiasco of 2019, explained in 30 seconds

WeWork has been in turmoil since it publicly filed its IPO paperwork in August. In one month, the coworking company cut its valuation down from $47 billion to as low as $10 billion, removed its CEO Adam Neumann, and delayed its IPO indefinitely. Visit Business Insider's homepage for more stories. What just happened to WeWork? Attempting to go public this month stirred up a lot of drama — in finances and leadership — for the nine-year-old coworking company.

WeWork has been in turmoil since it publicly filed its IPO paperwork in August. In one month, the coworking company cut its valuation down from $47 billion to as low as $10 billion, removed its CEO Adam Neumann, and delayed its IPO indefinitely. Visit Business Insider's homepage for more stories. What just happened to WeWork? Attempting to go public this month stirred up a lot of drama — in finances and leadership — for the nine-year-old coworking company.

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WeWork could cause a disaster for New York City's real-estate marketWeWork has a fundamental business problem and poses a serious threat to the real-estate markets in New York and London, even after the CEO change.
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WeWork co-founder Adam Neumann stepping down as CEONeumann will stay on in WeWork, the company he co-founded, in a non-executive role as chairman of the board
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