Adam Neumann’s grip on WeWork is rapidly eroding. When a company needs cash, it’s providers of capital that call the shots, writes liamwardproud.
Japan's SoftBank, the biggest investor in office sublessor The We Company, is exploring ways to replace Chief Executive Adam Neumann, Reuters reported on Sept. 22 citing four people familiar with the matter.
The WeWork parent said on Sept. 16 that it expected to complete its initial public offering this year, postponing an IPO that had been expected in September. SoftBank invested in The We Company at a $47 billion valuation in January. It was considering a potential IPO valuation as low as $10 billion before shelving the float, Reuters reported.
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