WeWork's ousted cofounder Adam Neumann regains billionaire status as the company goes public via SPAC
Once valued at $47 billion, with its sights set on “elevating the world’s consciousness,” office rental company WeWork will go public Thursday at a more muted $9 billion valuation. That’s got to be underwhelming for the investors who pumped $12.7 billion into the business as it ballooned to become one of the world’s most valuable startups. But there’s one player making out big time: Adam Neumann, the ousted cofounder whose conduct as CEO helped crash the company’s first IPO attempt .
In the years leading up to the planned 2019 IPO, Neumann and cofounder Miguel McKelvey sold nearly $500 million worth of the company’s shares, according to the 2021 book “The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion”; In April 2020, WeWork investor SoftBank terminated its offer to buy $3 billion worth of WeWork shares—including nearly $1 billion of shares from Neumann—citing into WeWork’s governance issues.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
WeWork debuts on the public markets after SPAC merger, stock up in early tradingThe office-leasing company halted initial plans for an IPO in 2019 after investors raised concerns over its business model and then-CEO Adam Neumann.
Consulte Mais informação »
WeWork debuts on the public markets after SPAC merger, stock up in early tradingThe office-leasing company halted initial plans for an IPO in 2019 after investors raised concerns over its business model and then-CEO Adam Neumann.
Consulte Mais informação »
Trump announces social media platform launch plan, SPAC dealFormer President Donald Trump is launching his very own media network, which will include a social media platform in order to 'stand up to the tyranny of Big Tech.'
Consulte Mais informação »
HSBC downgrades Krispy Kreme, says newly public company will continue to struggleNew for subscribers: HSBC downgrades Krispy Kreme, says newly public company will continue to struggle. Check out CNBCPro today.
Consulte Mais informação »
Rent the Runway Is a Listing to Be DepreciatedHeard on the Street: Rent the Runway is the latest company to file for a public offering employing both technology and creative accounting
Consulte Mais informação »
The tech billionaire aiding the Facebook whistleblowerWho's the tech billionaire helping the Facebook whistleblower take on one of the world's most powerful companies? Meet eBay founder Pierre Omidyar.
Consulte Mais informação »