INSUBCONTINENT EXCLUSIVE:
the company confirmed in a press release Tuesday following a report from The Wall Street Journal
eclectic executive has faced increasing pressure to relinquish his throne after another report from the WSJ highlighted his drug use and
While our business has never been stronger, in recent weeks, the scrutiny directed toward me has become a significant distraction, and I
have decided that it is in the best interest of the company to step down as chief executive
Thank you to my colleagues, our members, our landlord partners, and our investors for continuing to believe in this great
Rebekah has had several titles over the years, including chief impact officer, chief brand officer and most recently, co-founder and CEO of
anticipated initial public offering
its unusual IPO prospectus last month after raising more than $8 billion in equity and debt funding
that show losses of nearly $1 billion in the six months ending June 30.Wall Street investors were skeptical of the eye-popping valuation,
leading to reports WeWork would seek a valuation of as low as $15 billion instead, a magnificent defeat for one of the most valuable private
Wall Street, WeWork amended its S-1 filing to include the appointment of an independent lead director and its first female board member,
On top of that, the company decreased the strength of Class B and Class C shares so Neumann would not have 20 times the voting power of
will be reduced from 10:1 to 3:1.Meanwhile, WeWork is working with bankers to reduce the cost of its money-losing operation, with a new
report from The Information stating the business may cut as many as 5,000 roles, or one-third of its entire workforce.The WeWork IPO saga
Both companies were led, for years, by outspoken executives, Neumann and Travis Kalanick, respectively
Both men were ousted, in essence, by frustrated board members who were concerned at the potential outcome of multi-billion-dollar IPOs.Given
