Wednesday, December 18

Tag: WeWork

SEC Charges Phoenix Real Estate Investor With Stock Manipulation Over Fake WeWork Offer
29Nov By adminNo Comments
World

SEC Charges Phoenix Real Estate Investor With Stock Manipulation Over Fake WeWork Offer

The Securities and Exchange Commission on Wednesday charged Jonathan Larmore, a Phoenix-based real-estate investor, with stock manipulation tied to a false tender offer for now-bankrupt WeWork.The SEC charges also allege that ArciTerra Companies, a real-estate investment company, and Larmore, who is the company’s chief executive, misappropriated more than $35 million in managed funds over a number of years.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Wework: WeWork India adds new office spaces in Bengaluru and Hyderabad, says expansion affirms its reliability as a brand
16Nov By adminNo Comments
Business

Wework: WeWork India adds new office spaces in Bengaluru and Hyderabad, says expansion affirms its reliability as a brand

NEW DELHI: Even as US-based co-working startup WeWork has filed for bankruptcy, WeWork India’s expansionplans are on track and the company is adding new spaces in South India. The firm in which Bengaluru-based real estate major Embassy Group holds a majority 73% stake said that it has signed lease agreements for two new buildings—Manyata Redwood in Bengaluru and RMZ Spire in Hyderabad.“WeWork India’s continued expansion with ManyataRedwood and RMZ Spire exemplifies its reliability as a brand and it is a strong reflection of its relationships with all stakeholders including landlords, IPCs (international property consultants) and members,” the company said in a statement on Thursday.The new buildings will collectively add over 4,000 desks spread across 2,72,000 square feet to its existing ...
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WeWork Flopped. Have Flexible Offices?
9Nov By adminNo Comments
World

WeWork Flopped. Have Flexible Offices?

Flexible working isn’t turning out to be the boon for flexible-office providers that it might seem.WeWork co-founder Adam Neumann lamented this week that the company he used to run failed to take advantage of “a product that is more relevant today than ever before.” Although he didn’t mention his own role in WeWork’s downfall, he has a point. Demand for flexibility is strong as companies try to strike a balance between the traditional office and letting employees work at home.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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SoftBank Loses $6.2 Billion in Quarter as WeWork Weighs on Investments
9Nov By adminNo Comments
World

SoftBank Loses $6.2 Billion in Quarter as WeWork Weighs on Investments

TOKYO—SoftBank Group sank deeper into the red in the July-September period as it reported write-downs related to the bankruptcy of office-sharing company WeWork and technology shares stayed under pressure amid rising interest rates in the U.S.The Japanese technology investor posted a net loss of 931.1 billion yen, equivalent to $6.2 billion, for the quarter ended Sept. 30. That is compared with a 477.6 billion yen loss in the April-June quarter and 3.034 trillion yen profit a year earlier, when it unwound its stake in Alibaba Group Holding.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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How WeWork Rose and Went Broke
8Nov By adminNo Comments
Business

How WeWork Rose and Went Broke

Investors who put tens of billions of dollars into WeWork were hoping the co-working space startup would be the next Facebook. It hasn’t turned out that way. WeWork on Monday filed for Chapter 11 bankruptcy, serving as a painful lesson in how easy money fuels speculative investment.Adam Neumann founded WeWork in 2010 amid a boom in so-called “sharing economy” startups such as Uber, Airbnb and TaskRabbit. Mr. Neumann’s idea was to lease office space long-term, add millennial amenities such as hammocks, ping-pong tables and microbrews, and then sublease the shared space to startups at higher rates.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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WeWork, Once Valued At Close To $50 Billion, Seeks Bankruptcy Protection
7Nov By adminNo Comments
Business

WeWork, Once Valued At Close To $50 Billion, Seeks Bankruptcy Protection

NEW YORK (AP) — WeWork has filed for Chapter 11 bankruptcy protection, a stunning fall for the office-sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world.The company offered few specifics about the course of its restructuring, but noted in its filing that it was requesting the ability to cancel leases in particular locations that WeWork described as largely non-operational. All affected members have received advanced notice, the company said in a late Monday announcement.
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WeWork Files for Bankruptcy – WSJ
7Nov By adminNo Comments
World

WeWork Files for Bankruptcy – WSJ

Nov. 6, 2023 9:19 pm ET|WSJ ProWeWork filed for bankruptcy, capping the flexible-office-space venture’s remarkable collapse after once being the nation’s most valuable startup. The company filed for chapter 11 protection in the U.S. Bankruptcy Court in New Jersey. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Our Intelligence. Your Advantage.Sign in or subscribe for access to peerless insight & analysis, curated data & interactives, and networking events.
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Adam Neumann Wounded WeWork, an Office Market Bust Finished It Off
2Nov By adminNo Comments
World

Adam Neumann Wounded WeWork, an Office Market Bust Finished It Off

Listen to article(2 minutes)WeWork rode the wave of the venture-capital frenzy, building a global real-estate empire worth more than any other U.S. startup before buckling and laying off thousands when funding ran dry under its turbulent co-founder and former chief executive Adam Neumann. Ultimately, though, it was a historic office market bust that doomed the desk-rental giant. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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