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WeWork shares jump more than 13% in public markets debut after SPAC merger

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WeWork 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.

from WeWork and give up his voting rights. Real estate executive Sandeep Mathrani later assumed the CEO role.

"WeWork is an amazing brand and if someone gives you a super brand to turn around, you're going to have to say yes," Mathrani told CNBC's "Squawk Box."Reuters reported the New York State Attorney General was investigating the companyThat included reports that Neumann purchased the trademark for the word "We," and planned to charge WeWork $6 million to transfer it. Self-dealing is when someone acts in their own best interest rather than their clients.

Claure told "Squawk Box" that everybody has "an important role to play" and that Neumann deserves credit as the visionary who came up with the idea. Neumann congratulated the new leadership team during an interview with the media Thursday morning at the outdoor beer garden at The Standard, an expensive hotel in New York City's meatpacking district. He and co-founder Miguel McKelvey "couldn't be happier" to celebrate the IPO, Neumann said.

"This has always been about the team and about what we did together, and we're just so proud today and for this day," he said.SoftBank made its first multi-billion dollar investment in WeWork in 2017 through its $100 billion Vision Fund, which has also funded Silicon Valley startups like

 

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