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  • The We Company reverts to WeWork name to emphasise office-sharing roots Oct 15, 2020 11:03 AM IST

    The We Company reverts to WeWork name to emphasise office-sharing roots

    Restoration of WeWork as the official name is the most symbolic effort to date by management installed last year by majority owner SoftBank Group Corp. to focus on its core office-sharing business.

  • WeWork gets new $1.1 billion commitment from SoftBank Aug 14, 2020 06:39 PM IST

    WeWork gets new $1.1 billion commitment from SoftBank

    The company told employees that it cut its cash burn rate almost in half to $671 million from the end of last year

  • WeWork India gets $100-million funding boost from parent company Jun 05, 2020 07:59 PM IST

    WeWork India gets $100-million funding boost from parent company

    The company sees a new opportunity in the flexible workspace industry in India and around the world.

  • WeWork India gets $100-million funding boost from parent company Jun 05, 2020 06:44 PM IST

    WeWork India gets $100-million funding boost from parent company

    It will use the funds for prioritising growth in the Indian market over the next 36 months, the company has said.

  • WeWork reports slower cash burn in Q1: CFO email May 15, 2020 09:30 AM IST

    WeWork reports slower cash burn in Q1: CFO email

    Cash and unfunded cash commitments were $3.9 billion as of March, Chief Financial Officer Kimberly Ross said in the email.

  • WeWork directors seek to preserve right to sue owner SoftBank May 12, 2020 08:58 AM IST

    WeWork directors seek to preserve right to sue owner SoftBank

    A special committee of WeWork board members filed a motion in Delaware on Monday to prevent it from being disbanded, as it pursues legal action against majority owner SoftBank Group Corp

  • WeWork co-founder Adam Neumann sues SoftBank over failed tender offer May 05, 2020 01:15 PM IST

    WeWork co-founder Adam Neumann sues SoftBank over failed tender offer

    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.

  • SoftBank sees $8.4 billion net loss on WeWork writedown Apr 30, 2020 07:35 AM IST

    SoftBank sees $8.4 billion net loss on WeWork writedown

    SoftBank maintained its forecast of a record annual operating loss of 1.35 trillion yen announced earlier this month as bets via the $100 billion fund sour.

  • WeWork directors defend right to represent shareholders against SoftBank Apr 21, 2020 09:33 AM IST

    WeWork directors defend right to represent shareholders against SoftBank

    A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp that it does not have authority to represent the interests of minority shareholders of the office-sharing startup.

  • After WeWork, OYO is another rude shock for SoftBank's Son Apr 13, 2020 01:34 PM IST

    After WeWork, OYO is another rude shock for SoftBank's Son

    The Ritesh Agarwal-backed company, once touted by Son to overtake the biggest hotel chains, has frozen operations across the world.

  • WeWork special committee files lawsuit against SoftBank after tender offer falls through Apr 07, 2020 07:30 PM IST

    WeWork special committee files lawsuit against SoftBank after tender offer falls through

    Earlier in April, SoftBank said it had terminated the tender offer for additional WeWork shares agreed last year with shareholders, plunging the startup further into crisis.

  • SoftBank to walk out on $3 bn commitment to WeWork: Report Apr 02, 2020 11:33 AM IST

    SoftBank to walk out on $3 bn commitment to WeWork: Report

    The beleaguered company, which was already struggling with a bout of issues is now facing an existential crisis as most of its office buildings are now virtually empty due to COVID-19.

  • WeWork has sufficient cash to meet challenges posed by virus Mar 27, 2020 01:37 PM IST

    WeWork has sufficient cash to meet challenges posed by virus

    WeWork told bond investors in a letter reviewed by Reuters that it is in a sound finacial position to execute its plan through 2024.

  • SoftBank may scrap plan to buy $3 billion WeWork stock: Report Mar 18, 2020 10:10 AM IST

    SoftBank may scrap plan to buy $3 billion WeWork stock: Report

    The stock purchase agreement was a part of the plan to rescue WeWork, which has been struggling after its failed IPO.

  • E-commerce | CCI probe on Flipkart and the case for tapering discounts Mar 11, 2020 09:14 AM IST

    E-commerce | CCI probe on Flipkart and the case for tapering discounts

    Guilty or not, e-commerce firms should put a stop to burning investors’ money for deep discounts

  • SoftBank Group in new soup over allegations against Vision Fund chief Rajeev Misra: Report Feb 28, 2020 03:55 PM IST

    SoftBank Group in new soup over allegations against Vision Fund chief Rajeev Misra: Report

    He is believed to have done so in a bid to secure his place as the number two in the Japanese firm after SoftBank chairman Masayoshi Son.

  • WeWork India opens new centres in Mumbai and Bengaluru Feb 03, 2020 04:40 PM IST

    WeWork India opens new centres in Mumbai and Bengaluru

    With the launch of the two new centres, WeWork India now has over 57,000 desks in 34 locations across NCR, Mumbai, Bengaluru, Pune and Hyderabad.

  • WeWork names real estate executive Sandeep Mathrani as CEO Feb 03, 2020 08:09 AM IST

    WeWork names real estate executive Sandeep Mathrani as CEO

    WeWork’s IPO was shelved last year and the company recorded a steep plunge in valuation, to less than $8 billion from $47 billion.

  • Temasek, Trustbridge target majority stake in WeWork China at $1 billion valuation: Report Jan 17, 2020 11:17 AM IST

    Temasek, Trustbridge target majority stake in WeWork China at $1 billion valuation: Report

    WeWork currently owns 59 percent of WeWork China, with the remainder held by other investors including SoftBank, Hony Capital and Trustbridge.

  • Startups | SoftBank’s WeWork misstep is redefining the game in India Jan 03, 2020 01:37 PM IST

    Startups | SoftBank’s WeWork misstep is redefining the game in India

    In future, it is very likely that investors will put in a lot of checks and balances before making such investments.

  • SoftBank's $3 billion WeWork financing talks stall with Japan banks: Sources Dec 23, 2019 03:10 PM IST

    SoftBank's $3 billion WeWork financing talks stall with Japan banks: Sources

    The Japanese technology conglomerate is now likely to enter the new year without the WeWork financing in place, the people said, adding the banks are also concerned about the risks involved in rescuing the U.S. office-sharing startup.

  • WeWork arranges $1.75 billion credit line with Goldman Sachs Dec 18, 2019 12:20 PM IST

    WeWork arranges $1.75 billion credit line with Goldman Sachs

    The credit line is part of SoftBank Group Corp's $9.5 billion bailout that was announced in October when money-losing WeWork was on the brink of running out of cash after its plans to go public were abruptly withdrawn a month earlier.

  • SoftBank to go ahead with WeWork stock tender offer this week Nov 25, 2019 08:07 AM IST

    SoftBank to go ahead with WeWork stock tender offer this week

    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.

  • WeWork names new executives, path to profitability by 2023 Nov 23, 2019 08:45 AM IST

    WeWork names new executives, path to profitability by 2023

    Maurice Levy, chairman of ad agency Publicis Groupe SA, was named interim chief marketing and communications officer

  • WeWork to lay off 2,400 employees in SoftBank revamp Nov 22, 2019 07:58 AM IST

    WeWork to lay off 2,400 employees in SoftBank revamp

    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.

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