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SoftBank reportedly plans to offer $5 billion in financing to WeWork without majority control, offering an alternative to JPMorgan’s high-intere...
Unlike an earlier SoftBank package, this would not see WeWork's largest investor taking control of the embattled office company.
‘The plumbing isn’t broken’: Goldman Sachs’ CEO says WeWork’s failed IPO could improve private markets
WeWork's flop could lead to smaller investments, faster IPOs, and greater transparency for private companies, David Solomon predicted.
Houlihan Lokey, a bank known for its restructuring expertise, has been hired to assess loss-making practices, Bloomberg reported.
WeWork says thousands of its phone booths could have dangerous levels of formaldehyde after people complained about odor and eye irritation
WeWork warned tenants that phone booths at its offices across the US and Canada could have dangerous levels of formaldehyde.
SoftBank could reportedly take control of WeWork at a valuation below $10 billion as the embattled office rental company seeks bailout options
WeWork is also working with JPMorgan to line up billions as it tries to avoid running out of cash, The Wall Street Journal reported Sunday.
WeWork is now is said to be talking to JPMorgan about a $5 billion credit line and could run out of cash next month without it
The $5 billion amount is bigger than previously reported, and the length of time WeWork may have before running out of cash is significantly shorter.
Cash-strapped WeWork pulled more than $60 million from its UK unit and almost tripled the division’s debt last year
The subsidiary's sales jumped 90%, but payments to WeWork and higher wage and interest costs meant its losses spiked tenfold.
WeWork is reportedly rushing to get a new debt financing deal and it could run out of cash next month
The Financial Times reported that JPMorgan is rushing to complete a debt deal as soon as next week, to give WeWork time to restructure.
Adam Neumann spent over $650,000 on property taxes last year — that’s more than double the median US home value
Since WeWork's inception, cofounder and former CEO Adam Neumann has dropped over $80 million on homes. There's a big tax bill that comes with that.
WeWork’s India business is trying to raise $200 million after prior funding was pulled following the firm’s botched IPO
WeWork withdrew its planned initial public offering in late September after co-founder Adam Neumann stepped down.