Startup founder says WeWork acquisition almost destroyed his company

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Ireland News News

The founder of a startup bought by WeWork describes how he almost destroyed his 7-year-old company in the span of 24 hours over one simple mistake

Adam Neumann, CEO of WeWork, one of the big, private companies held by mutual funds at different valuations.On Twitter, Fano said the acquisition process moved quickly, closing in just 25 days.

"We spent 7 years building an amazing culture of trust and transparency, and in a span of 24 hours, almost lost it all," Fano wrote."Caught up in trying to get the deal done, we lost sight of how this process would make everyone feel." Fano said CASE told its workers of the WeWork acquisition and asked them to return signed documents within 24 hours. The entire process took less than a month from when a verbal agreement was reached to when the deal officially closed.

The transaction put many of the firm's employees in a tailspin, Fano said. CASE was given less than two weeks after the letter of intent was signed to officially close the deal by informing employees and getting the workers to review WeWork's employment agreement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I still think Masa destroyed We.

So much for the 'we' he screwed all of his employees and walked away with billions. Watch the documentary on hulu

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Honest Company will dig into next stage of growth after IPO, founder Jessica Alba saysThe Honest Company's public market debut will start a new stage of growth for the consumer products company, according to actress and founder Jessica Alba.
Source: CNBC - 🏆 12. / 72 Read more »