INSUBCONTINENT EXCLUSIVE:
If WeWork wanted to cement the impression that it no longer strives to be viewed as a tech company but rather as a real estate giant
new story from the WSJ that says the company, which was famously forced to pull its initial public offering last fall, has settled on
chairman of Brookfield Properties
Before joining the Chicago-based company, he spent eight years as the CEO of General Growth Properties
It was one of the largest mall operators in the United States until Brookfield acquired it for $9.25 billion in cash in 2018.Mathrani also
spent eight years as an executive vice president with Vornado Realty Trust, a publicly traded real estate company with a market cap of $12.5
(Brookfield is slightly smaller, with a market cap of roughly $8 billion.)Mathrani will reportedly relocate to New York from Miami, where,
SoftBank operating chief who was appointed executive chairman of WeWork in October in order to help salvage what Claure has himself said is
an $18.5 billion bet on WeWork by SoftBank.Specifically, Claure told nervous employees at an all-hands meeting shortly after his
To put the things in context, that is bigger than the GDP of my country where I came from [Bolivia]
Legere later communicated through sources that he had no plans to leave T-Mobile, yet just days later, in mid-November, Legere, who joined
(According to the Verge, his contract is up April 30.)Sprint and T-Mobile were expected to merge, though 13 states, led by the attorneys
general of New York and California, are suing to block the deal over concerns that the merger would hurt competition and raise prices for
resign from the company after his sweeping vision for it as a tech company that enables customers to seamlessly shift from one WeWork
location to another while also paying for software and services was met with extreme skepticism by public market investors.Indeed, though
Neumann (not fully understood previously); and a series of unflattering reports about his leadership style, including beginning with the
those.According to the WSJ, SoftBank has already established a five-year business plan that it expects will get the company to profitability
and allow it to be cash-flow positive by some time next year
Part of that plan clearly involved layoffs; it cut 2,400 employees in late November, shortly before the Thanksgiving holiday in the United
What WeWork does not intend to curtail, reportedly, are its efforts to open new locations, even if it acquires them at a slower pace than in
