WeWork – VentureCrapital

Bloomberg: WeWork floats “governance change” to salvage IPO

Posted on September 11, 2019 by Elon Theranos Esq.

As per Bloomberg: WeWork desperately scrambles to salvage an IPO being spurned by the investing public by floating a “governance shakeup” although any reforms would still leave Neumann with total control over what happens because of the share structure. Also, the article opines that nobody is sure what governance changes remain to be made, given that “The company already has taken some steps, such as adding a woman to its board and having Neumann return…

Unicorns Jump The Shark: WeWork IPO In Danger of being Shelved

Posted on September 10, 2019 by Elon Theranos Esq.

For some reason the investing public seems to be giving the WeWork IPO a suboptimal reception. After multiple reductions in the IPO sticker price, from 40B down to 20B and now perhaps even less, the lead investor Softbank is recommending that the IPO be shelved. For some reason when the CEO cashes out 700 million ahead of the IPO in a company whose losses exceed total revenues people aren’t overly eager to put in more money….

WeCash-out, before IPO

Posted on July 19, 2019 by Elon Theranos Esq.

The WSJ today reported on how WeWork co-founder and CEO Andrew Neumann has extracted $700,000,000 in share sales and loans from his money-losing, pre-IPO unicorn. So far Neumann has purchased 4 homes around New York, funded an elementary school his kid goes to, and paid $14,000,000 for a 13,000 squarre foot crib in the Bay area that has a guitar-shaped romper room. He also buys properties and leases them back to WeWork. All very confidence instilling for…