Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
WeWork = Did Not Work!
By Staff Reporters
***
***
WeWork, the coworking company just filed for Chapter 11 bankruptcy protection in New Jersey after years of struggles that began with a failed IPO in 2019. It aborted the IPO after investors got a look at its finances and just how much power WeWork’s eccentric founder Adam Neumann possessed.
CITE: https://www.r2library.com/Resource
WeWork (which eventually went public via SPAC) has suffered from having signed on to very expensive leases in its pre-IPO rush to grow.
SPAC: https://medicalexecutivepost.com/2022/06/13/spac-v-direct-listing-v-ipo/
In 2019, the company was valued at $47 billion, but it has since fallen steadily, and this year, its stock has plunged by 98%, giving it a ~$45 million value as of last week.
COMMENTS APPRECIATED
Thank You
***
***
Share this:
Filed under: "Ask-an-Advisor", Accounting, Alternative Investments, Breaking News, Ethics, Investing, LifeStyle | Tagged: adam neumann, IPO, SPAC, WeWork, WeWork Bankrupt | Leave a comment »
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 