Category: WeWork

For WeWork, Rent is More Important than Retention During Coronavirus Pandemic
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For WeWork, Rent is More Important than Retention During Coronavirus Pandemic

At the peak of the Covid-19 pandemic, WeWork is charging full rent to its members but is seeking rent relief from its landlords. Such unforgivable behavior during the pandemic is lowering clients’ faith in WeWork’s working. With no more cash coming from Softbank and reduced consumer confidence, WeWork’s doomsday is near. WeWork became a $3…

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Why WeWork Won’t Survive the Coronavirus Pandemic
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Why WeWork Won’t Survive the Coronavirus Pandemic

WeWork burned $1.4 billion in cash in the final quarter of 2019, on top of the $1.25 billion it lost in the previous quarter. Its main investor, SoftBank, is set to withdraw further funding, meaning that WeWork could run out of cash. WeWork’s business prospects will be damaged by people’s reduced appetite for working in…

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Why is WeWork 2.0 trying to go public?
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Why is WeWork 2.0 trying to go public?

In the wake of WeWork’s embarrassing IPO rout, you might imagine that startups working in similar markets would cool it for a bit. Perhaps they could work on cutting spending, improving their gross margins, and, say, shooting for profitability. Not so, at least in one case. Instead of doing those things, China-based Ucommune filed to go…

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Airbnb’s WeWork problem
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Airbnb’s WeWork problem

Two very different ‘unicorns’ aim to go public in 2020 Airbnb may be another overvalued “unicorn,” but it’s no WeWork. The Information this morning reported new Airbnb financials — indicating a massive increase in operating losses — that immediately call Airbnb’s future into question. Precisely, Airbnb lost $306 million on operations on $839 million in…

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WeWork pulls thousands of phone booths out of service over formaldehyde scare
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WeWork pulls thousands of phone booths out of service over formaldehyde scare

WeWork, the co-working empire once valued at $47 billion before reality struck, plunging the business and its investors into crisis, has another problem to add to its growing pile — one which doesn’t exactly reflect well on its core business of kitting out and maintaining modern working environments. The problem is a safety concern affecting…

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VC Brad Feld on WeWork, SoftBank, and why venture firms may have to slow down their pacing in 2020
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VC Brad Feld on WeWork, SoftBank, and why venture firms may have to slow down their pacing in 2020

Yesterday, we had a chance to talk with longtime venture investor Brad Feld of Foundry Group, whose book “Venture Deals” was recently republished for the fourth time for good reason. It’s a storehouse of knowledge, from how venture funds really work to term sheet terms, from negotiation tactics to how to choose (and pay for)…

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Report: WeWork expected to cut 500 tech roles
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Report: WeWork expected to cut 500 tech roles

The WeWork saga continues this week with new reports the company may slash as many as 500 tech roles. The co-working business, whose eccentric co-founder and chief executive officer Adam Neumann stepped down two weeks ago, is expected to let go of 350 employees within its corporate division, The Information reports. Initial cuts will be…

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