A representative for Neumann’s real estate company, Flow, confirmed that a bid was submitted, saying it exceeded the amount reported by the Journal.
Neumann's proposal to inject cash into WeWork is likely to be met with some hesitation, as the man who once steered the ship into troubled waters now wants to grab the helm again
Israeli investor Adam Neumann started the business in 2010 with the designer Miguel McKelvey. Their vision was to lease office space and then rent smaller parcels of it to customers.
Perhaps unsurprisingly, there’s no mention of a smaller investment that is also a redemption of sorts: Neumann’s championing of tokenized carbon credits via a startup called Flowcarbon, which is apparently unaffiliated with Flow though both are backed by Andreessen Horowitz.
After the disaster that was WeWork, its co-founder Adam Neumann has now come up with a new real-estate startup, Flowcarbon. Hopefully this project will fare better than Neumann's other ventures
Flow is a real estate startup that aims to revolutionise the residential housing industry.
Adam Neumann is starting a new real estate company called Flow; and it notably has the financial support of prominent Silicon Valley venture capital firm Andreessen Horowitz - an early investor in everything from Facebook to Airbnb
Jared Leto and Anne Hathaway are memorable as Adam and Rebekah in this show about the rise and fall of Adam Neumann - the co-founder of WeWorks.
The settlement would put to rest a prolonged legal battle between Neumann and Softbank, which dates back to 2019 when WeWork's IPO plans fell apart.
Published by Hodder and Stoughton, this book unpacks how WeWork founder Adam Neumann attracted investments worth billions of dollars with his charismatic appeal, soaring ambition, and ruthless networking.
The tender offer was part of a $9.6 billion rescue financing package that SoftBank agreed with WeWork in October and gave it control of the company. Since then, WeWork's occupancy rates have plummeted amid the COVID-19 pandemic.
The tender offer to the founders, investors and employees owning stock was expected to launch earlier this month but was delayed after SoftBank sought technical revisions to the offer documents, according to the sources.
The long-anticipated layoffs are the biggest move yet by Japanese technology conglomerate SoftBank Group Corp, which is providing a $9.5 billion lifeline and will soon own about 80 percent of WeWork's shares, to refocus the company on its core business.
WeWork could run out of cash as early as next month without new financing, sources have said, after the company pulled plans in September for an initial public offering (IPO).
WeWork is a four-year-old company that provides shared workspaces largely to start-up companies without owning the properties itself.