Exclusive: WeWork is selling Meetup to AlleyCorp for a fraction of its 2017 price

Exclusive: WeWork is selling Meetup to AlleyCorp for a fraction of its 2017 price 1

WeWork is selling Meetup, the social community that encourages folks to get collectively in individual, to AlleyCorp and a staff of non-public buyers, the coworking firm has confirmed to Fortune. The sale comes simply days after WeWork’s majority proprietor, SoftBank, introduced a $41 billion asset sale to assist it climate the downturn within the international […]

News| WeWork in crisis: ‘Workplaces will never be the same after this’

News| WeWork in crisis: ‘Workplaces will never be the same after this’ 2

WeWork executives used to obsess over the variety of individuals they might pack into every of the firm’s shared workspaces.  They stated a extra crowded workplace helped make the area really feel energetic and spark collaboration when deskmates slid previous one another in the hallways. The method had an added advantage of maximising income from […]

SoftBank May Bail on $3 Billion of Its WeWork Bailout

SoftBank May Bail on $3 Billion of Its WeWork Bailout 3

SoftBank Group CEO Masayoshi Son speaking on WeWork’s financials, as represented right here as a downward arrow with no knowledge factors, in November 2019.Photo: Kazuhiro Nogi (AFP through Getty Images) Japanese conglomerate SoftBank is making an attempt to backpedal from half of its bailout of tanking coworking area agency WeWork, the Wall Street Journal reported […]

WeWork appoints US real estate industry veteran Sandeep Mathrani as CEO

WeWork appoints US real estate industry veteran Sandeep Mathrani as CEO 5

Softbank-backed workplace sharing agency WeWork named real estate industry veteran Sandeep Mathrani as its new chief government on Saturday. Mathrani will be part of the corporate as the CEO from February 18, 2020 and can report back to Marcelo Claure, who will stay as government chairman, the corporate mentioned in […]

Parsing the WeWork Debacle

Parsing the WeWork Debacle 6

Good morning. If you missed it, the Wall Street Journal had a grand weekend take-out on the WeWork debacle. This story has the earmarks of a year-end effort to shore up a journalism awards entry. But that’s okay; it additionally has quite a lot of nice element. And the WeWork saga will doubtless be the […]

GitHub’s China ambitions and WeWork rival’s big hopes – Internet

GitHub’s China ambitions and WeWork rival’s big hopes – Internet 8

Hello and welcome again to TechCrunch’s China Roundup, a digest of latest occasions shaping the Chinese tech panorama and what they imply to folks in the remainder of the world. This week, we’re how WeWork’s largest rival in China — UCommune — is pulling forward with its preliminary public providing and GitHub’s potential big transfer […]

WeWork is shutting down a restaurant coworking startup it acquired only 4 months ago

WeWork is shutting down a restaurant coworking startup it acquired only 4 months ago 9

WeWork is closing its restaurant coworking startup Spacious, after buying the corporate only round 4 months prior. It’s the most recent signal that the troubled firm is reducing prices by offloading the plethora of enterprise it quickly acquired prior to now few years. Making issues extra difficult, in October a whistleblower filed a grievance about […]

Cousin Greg to play equally tall, inept WeWork co-founder Adam Neumann in new series

Cousin Greg to play equally tall, inept WeWork co-founder Adam Neumann in new series 10

After WeWork’s disastrous IPO submitting, many had been claiming the corporate would quickly be worthless. But there’s nonetheless one thing of value at WeWork: its story and its potential as IP for Hollywood. Variety confirmed that Chernin Entertainment and Endeavor Content will produce the WeWork story, based mostly on Wall Street Journal reporters Maureen Farrell […]

After WeWork, SoftBank Group’s start-up Bookkeeping draws scrutiny

After WeWork, SoftBank Group's start-up Bookkeeping draws scrutiny 12

In early 2018, the founders of Chinese synthetic intelligence startup SenseTime Group flew to Tokyo to see billionaire investor Masayoshi Son. As they entered the workplaces, Chief Executive Officer Xu Li hoped to steer the pinnacle of SoftBank Group to take a position $200 million in his three-year-old start-up. A […]

Why SoftBank is Investing in Brazil, and Why Nobody There Seems to Care About WeWork

Why SoftBank is Investing in Brazil, and Why Nobody There Seems to Care About WeWork 13

SoftBank has made loads of headlines these days, however for all of the improper causes (just like the downfall of WeWork, its once-darling funding in the United States). In different areas, although, the Japanese funding agency is managing to quietly dole out its mega-bucks—minus the extraordinary stage of scrutiny that follows its fund or different […]

New York State Attorney General reportedly investigating WeWork – Internet

New York State Attorney General reportedly investigating WeWork – Internet 14

WeWork is reportedly being investigated by the New York State Attorney General. According to Reuters, the NYAG’s questions embrace if WeWork founder and former CEO Adam Neumann engaged in self-dealing. A WeWork spokesperson stated in an e mail that “we have received an inquiry from the office of the New York State Attorney General and […]

WeWork planning to layoff thousands in cost-cutting efforts: NYT

WeWork planning to layoff thousands in cost-cutting efforts: NYT 15

Signage is seen on the entrance of the WeWork places of work on Broad Street in New York. David ‘Dee’ Delgado | Bloomberg | Getty Images WeWork is making ready to reduce at the very least 4,000 jobs in a bid to obtain monetary stability and people layoffs might be introduced as early as this […]

Hemorrhaging WeWork Is Now Fielding SEC Probe: Report

Hemorrhaging WeWork Is Now Fielding SEC Probe: Report 16

However WeWork could also be outlined—transformative workplace house startup or cult-like Silicon Valley unicorn—the Securities Exchange Commission reportedly believes the firm warrants inquiry. Sources accustomed to the matter informed Bloomberg the SEC has begun scrutinizing the company over issues that buyers might have been misled forward of WeWork’s disastrous initial-public-offering-that-wasn’t. Just for a recap: In […]

John Legere isn’t leaving T-Mobile to take WeWork CEO job

John Legere isn't leaving T-Mobile to take WeWork CEO job 17

John Legere, chief govt officer of T-Mobile US Inc. Chris Goodney | Bloomberg | Getty Images T-Mobile Chief Executive Officer John Legere isn’t taking the WeWork CEO job, in accordance to individuals accustomed to the matter. Legere, who turned CEO of T-Mobile in 2012, has no plans to go away the corporate, stated the individuals, […]

WeWork gives 0 forks, and Docker containerizes its future into a casket – Internet

WeWork gives 0 forks, and Docker containerizes its future into a casket – Internet 18

Hello and welcome again to Equity, TechCrunch’s enterprise capital-focused podcast, the place we unpack the numbers behind the headlines. This week Kate was in China, so TechCrunch’s Danny Crichton and Alex took the helm whereas she was out grilling Lime. So, with our producer (the wonderful Mr. Gates) in San Francisco and Danny in New […]

WeWork Reportedly Knew About Its Toxic Phone Booths For Months

WeWork Reportedly Knew About Its Toxic Phone Booths For Months 19

Leadership at WeWork knew that the corporate’s customized telephone cubicles had elevated quantities of formaldehyde for months earlier than it warned its prospects about sitting contained in the small poisonous cells, in line with a report from Bloomberg. Most WeWork members discovered in mid-October that the telephone cubicles posed a possible well being hazard when […]

WeWork Is Trying to Woo T-Mobile CEO John Legere

WeWork Is Trying to Woo T-Mobile CEO John Legere 21

Photo: Getty T-Mobile CEO John Legere could also be contemplating hanging up his magenta regalia for good. The Wall Street Journal reviews that the brazen Batman-obsessed govt is in talks with WeWork about presumably filling the void left by Adam Neumann when he took a reported $1.7 billion to go away his CEO place within […]