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Search resuls for: "WeWork Inc"


2 mentions found


☆ WeWork to exit 40 U.S. locations to cut costs, revenue outlook disappoints
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: +1 min
Nov 10 (Reuters) - WeWork Inc (WE.N) said on Thursday it will exit about 40 locations across the United States and forecast current-quarter revenue below estimates as the flexible workspace provider faces high expenses and a strong U.S. dollar. WeWork went public in 2021 after a two-year struggle and currently has a market cap of around $1.77 billion. The New York-based firm also reported third-quarter revenue of $817 million, below market expectations of $865 million, according to a Refinitiv poll of five analysts. Net loss per diluted share came in at 75 cents per share, below estimates for a loss of 45 cents. WeWork expects fourth-quarter revenue to be between $870 million and $890 million, below expectations of $923.8 million.
☆ Adam Neumann Handing Over Part of Property Holdings to Fund Startup
  + stars: | 2022-09-13 | by ( Konrad Putzier | ) www.wsj.com   time to read: 1 min
Adam Neumann, former CEO of WeWork, has bought stakes in thousands of apartments since leaving the company he co-founded. Adam Neumann ’s new rental-apartment startup recently received a $350 million investment from venture-capital firm Andreessen Horowitz. That big check came with an unusual catch. Mr. Neumann, the co-founder and former chief executive of WeWork Inc., agreed to effectively hand over part of his vast real-estate holdings in return for the money, according to people familiar with the matter.
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