Once valued at $47 billion, with its sights set on “elevating the world’s consciousness,” office rental company WeWork will go public Thursday at a more muted $9 billion valuation. That’s got to be underwhelming for the investors who pumped $12.7 billion into the business as it ballooned to become one of the world’s most valuable startups. But there’s one player making out big time: Adam Neumann, the ousted cofounder whose conduct as CEO helped crash the company’s first IPO attempt .
In the years leading up to the planned 2019 IPO, Neumann and cofounder Miguel McKelvey sold nearly $500 million worth of the company’s shares, according to the 2021 book “The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion”; In April 2020, WeWork investor SoftBank terminated its offer to buy $3 billion worth of WeWork shares—including nearly $1 billion of shares from Neumann—citing into WeWork’s governance issues.
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WeWork’s Ousted Cofounder Adam Neumann Regains Billionaire Status As Company Goes Public Via SPACChastened cofounder Neumann—no longer an executive at WeWork—retained a stake in the office rental company and has received fat separation payouts. Who in their right mind would buy stock in this company
La source: Forbes - 🏆 394. / 53 Lire la suite »
WeWork’s Ousted Cofounder Adam Neumann Regains Billionaire Status As Company Goes Public Via SPACChastened cofounder Neumann—no longer an executive at WeWork—retained a stake in the office rental company and has received fat separation payouts. The Best thing for $WE now is to distance themselves as much as possible from Neuman Only the non-ginger buns are supposed to be gaining billionaire status these days
La source: Forbes - 🏆 394. / 53 Lire la suite »
WeWork debuts on the public markets after SPAC merger, stock up in early tradingThe office-leasing company halted initial plans for an IPO in 2019 after investors raised concerns over its business model and then-CEO Adam Neumann.
La source: CNBC - 🏆 12. / 72 Lire la suite »
WeWork shares jump more than 13% in public markets debut after SPAC mergerWeWork made its public debut today through a SPAC merger, more than 2 years after its failed IPO. 'This company is here, it's stronger than ever, and no doubt that we’re going to be celebrating many more milestones,' Executive Chairman Marcelo Claure said.
La source: CNBC - 🏆 12. / 72 Lire la suite »
Shares Of SPAC Behind Trump Social Media Company Jump 295%Trump unveiled plans for a new social media company called 'TRUTH Social' on Wednesday. Trump selling naked unregistered shares in $DWAC bout now... Buy $DRV end the fraud 🤥🤥🤥
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