Adam Neumann

Flexible shared workspace provider WeWork has announced it would accept payment in select cryptocurrencies, according to a press release. What Happened:  The company, which is located in over 120 cities worldwide, has plans to “expand its flexibility” by utilizing...

WeWork’s co-founder Adam Neumann is set to benefit from a $50 million bonanza along with other benefits as a part of a settlement agreement with SoftBank Group Corp (OTC: SFTBY), the Wall Street Journal reported Wednesday. What Happened: SoftBank will give the former WeWork CEO a $50 million...

The chairman of WeWork, Marcelo Claure, said that the co-working space company was on the verge of being profitable in 2021 after carrying out extensive cost-cutting measures. What Happened In an interview with the Financial Times on Sunday, Claure disclosed that after the company...

Alibaba Group Holdings Inc. (NYSE: BABA) co-founder Jack Ma is resigning from SoftBank Group Corporation's (OTC: SFTBY) board of directors, the latter said in a statement Monday (Tokyo time). What Happened Ma, who had been a member of SoftBank's board since 2007, will resign at the...

WeWork's co-founder and former CEO Adam Neumann on Monday sued SoftBank Group Corp. (OTC: SFTBY) for breach of contract. SoftBank reneged on a promise to buy the shares from other stakeholders, including investors, employees, and him, based on faulty legal grounds for the benefits it already...

WeWork is suing SoftBank Group Corporation, (OTC: SFTBY) after it canceled plans to purchase $3 billion of WeWork’s shares. What Happened A lawsuit filed by the special committee of WeWork’s board of directors, in the name of We Co., the parent organization of WeWork...

SoftBank Group Corporation (OTC: SFTBY) on Wednesday announced that it wouldn't purchase $3 billion worth of shares from WeWork's other shareholders. WeWork Stakeholders Didn't Meet Terms, SoftBank Says The Japanese investment firm had promised to buy the shares as part of a $9.5...

The special committee of the WeWork board of directors on Sunday said that it is "committed to take all necessary actions" if SoftBank doesn't live up its end of the bargain in the bailout deal signed October last year. What Happened "Not only is SoftBank obligated to consummate...

Co-working space startup WeWork has signed an agreement to provide Gympass with office space for 250 employees in Manhattan, Reuters reported Sunday. What Happened The agreement, which is valid for three years, will see Gympass' capacity in the city triple, according to Reuters. Much like...

Two investors could purchase a controlling stake in WeWork China, sources told Reuters. What Happened The investors, Temasek Holdings and Trustbridge Partners, have had negotiations with WeWork China about buying more shares to own a majority stake in the company. A takeover proposal...

SoftBank Group Corp’s (OTC: SFTBY) talks with Japan’s top three banks to secure $3 billion to help fund its support of a real estate startup WeWork have stalled, according to Reuters. What Happened Japan’s three biggest banks are considering the credit risks involved...

The co-working space startup WeWork will lay off 2,400 employees which is 19% of its workforce as it works to cut costs, according to CNBC reports. The massive layoffs come at a time when WeWork is facing larger than ever drop in profits. The company posted a net loss of $1.25 billion in the...

Co-working space startup WeWork is being investigated by the office of the New York State Attorney General, Reuters reported on Monday. What Happened The Attorney General Letitia James is looking into whether the startup’s former CEO and co-founder Adam Neumann engaged in self-...

Co-working space startup WeWork could lay off more than one-third of its total workforce as soon as next week, the New York Times reported on Sunday. What To Know From The NYT Report More than 2,000 people employed in WeWork’s core business of subletting working space will lose their jobs,...

Co-working space startup WeWork made a net loss of $1.25 billion in the third quarter in 2019, the company told its investors on Wednesday, according to the Wall Street Journal. What Happened The New York-based company saw a total revenue of $934 million, a 94% increase compared to the...