Jefferies Financial Group again cut the value of its small WeWork stake, the investment bank said in an earnings release on Wednesday.
The September adjustment reflected a "significant discount due to uncertainty regarding the timing and pricing of We's IPO," CEO Rich Handler and President Brian Friedman said in the third-quarter earnings release. "As the facts at We become clearer, further adjustments may be made in future periods."
WeWork's valuation plummeted from $47 billion a year ago to less than $5 billion in November. In September, intense scrutiny of its finances and leadership from investors and the media forced WeWork to remove cofounder Adam Neumann as CEO and scrap its IPO plans.
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:
In January and not December. How interesting...
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
3 lessons leaders can learn from fall of WeWork CEO Adam Neumann - Business InsiderLooking at 2020: 3 lessons leaders can learn from the fall of former WeWork CEO Adam Neumann, according to a millennial success coach (by TheMillennialPB) TheMillennialPB Lesson 1: You are not God
Source: BusinessInsider - 🏆 729. / 51 Read more »
3 lessons leaders can learn from fall of WeWork CEO Adam Neumann - Business InsiderLooking at 2020: 3 lessons leaders can learn from the fall of former WeWork CEO Adam Neumann, according to a millennial success coach (by TheMillennialPB) TheMillennialPB Lesson 1: You are not God
Source: BusinessInsider - 🏆 729. / 51 Read more »
Citi is partnering with YieldStreet, an alternative investment fintech - Business InsiderWealth startup YieldStreet just nabbed backing from Citi and inked a deal to sell billions in private-credit and structured products to the mass affluent crowd So the rich get richer...🤷🏽♀️ How can one pull themselves up by the bootstraps when y’all are wearing Gucci loafers?
Source: BusinessInsider - 🏆 729. / 51 Read more »
Facebook deepfake policy could fall short - Business Insider - Business InsiderUnder Facebook's new policy, users cannot post videos that are manipulated through AI or altered in a way that is misleading to the 'average' person.
Source: BusinessInsider - 🏆 729. / 51 Read more »
HSBC is facing pressure in Hong Kong - Business Insider - Business InsiderHSBC faces backlash in Hong Kong after closing an account with funds used by Spark Alliance, and after police froze $9 million tied to the account. And also Hong Kong and Shanghai are part of the bank’s name.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Encino mansion from 'Entourage' is on the market for $5.5 million - Business InsiderThe 7-bedroom mansion made famous by HBO's 'Entourage' is selling for $5.5 million — here's a look inside the Tuscan-style estate S_JArabi
Source: BusinessInsider - 🏆 729. / 51 Read more »