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New normal employees seek safer, more flexible work spaces: WeWork

ABS-CBN News
Posted at Mar 18 12:00 PM

MANILA - Employees working under the "new normal" now expect safer and more flexible work arrangements as the COVID-19 pandemic continues to transform the office landscape, co-working firm WeWork said Thursday. Read more »

Where did the tech millionaires go? San Francisco faces IPO fizzle

Nellie Bowles and Kate Conger, The New York Times
Posted at Dec 20 09:30 AM

The stock of Uber, the ride-hailing giant, has dropped nearly 30 percent since the company went public in May. Lyft shares are down nearly 40 percent. Pinterest and Slack have declined, too. Read more »

WeWork to lay off 2,400 workers worldwide

Douglas Gillison, Agence France-Presse
Posted at Nov 22 08:31 AM

The painful job cuts underscore the rapid decline of what had been one of America's most celebrated startups which put a mammoth footprint in the commercial real estate of major cities around the globe but recently had to cancel its debut on Wall Street. Read more »

WeWork hit with big loss despite revenue jump: reports

Agence France-Presse
Posted at Nov 14 03:22 PM

The firm has suffered a dramatic reversal in fortunes since its $47 billion valuation at the start of the year. Read more »

SoftBank Group profit plunges owing to WeWork turmoil

Agence France-Presse
Posted at Nov 06 03:47 PM

In the three-month period ending September 30, operating losses hit a whopping 704.4 billion yen ($6.4 billion).   Read more »

WeWork's new chairman defends payouts to founder, says company will survive

Sheila Dang and Carrie Monahan, Reuters
Posted at Oct 24 09:54 PM

WeWork's new chairman defended huge payouts to the office-sharing company's founder Adam Neumann and said there is now "zero risk of the company going bankrupt."  Read more »

SoftBank in talks to take control of WeWork

Agence France-Presse
Updated as of Oct 22 08:20 AM

Japan-based SoftBank is ready to buy a controlling stake in WeWork, providing the shared office space startup desperately needed funding at a slashed valuation, a source told AFP on Monday.  Read more »

SoftBank bailout would give it control of WeWork: sources

Agence France-Presse
Posted at Oct 15 07:38 AM

Japan's SoftBank Group has prepared a financing plan that would give it control of WeWork as the office sharing startup seeks badly- needed financing, sources told AFP Monday.  Read more »

WeLive, WeWork's planned residential utopia stalls

Matthew Haag, Rebecca Liebson and Andrea Salcedo, The New York Times
Posted at Oct 14 03:25 PM

In recent days, WeLive shelved plans to open new locations in Tel Aviv, according to local reports. In India, a developer said it was entering the co-living market without WeLive as a partner. Read more »

Fitch downgrades WeWork after aborted IPO leaves financing hole

Joshua Franklin, Reuters
Posted at Oct 02 01:45 PM

Global credit rating agency Fitch Ratings on Tuesday downgraded WeWork's credit rating by two notches to "CCC+," putting the Softbank-backed office-sharing firm deep into junk territory a day after it abandoned an initial public offering.   Read more »

WeWork throws in the towel on its ill-fated IPO

Anirban Sen, Reuters
Posted at Oct 01 09:14 AM

WeWork's parent The We Company said on Monday it will file to withdraw its initial public offering, a week after the SoftBank-backed office-sharing startup ousted founder Adam Neumann as its chief executive officer. Read more »

WeWork IPO likely to be pushed back: source

Agence France-Presse
Posted at Sep 17 09:03 AM

WeWork had been expected to launch its IPO roadshow on Monday to market its shares to potential investors. Read more »

WeWork mulls slashing IPO valuation as skepticism rises over business model: sources

Joshua Franklin, Reuters
Posted at Sep 06 07:10 AM

A dramatic drop in the We Company's valuation could also prove to be a seminal moment for the IPO expectations of Silicon Valley unicorns, or startups with a valuation over $1 billion. Read more »

WeWork expands in Philippines with second hub

ABS-CBN News
Posted at Jul 18 10:12 AM

The firm that develops shared or coworking spaces officially opened its new space located inside the RCBC Plaza in Ayala Avenue, WeWork said in a statement. Its first branch is located in Taguig. Read more »

WeWork files for IPO, joining wave of cash-burning startups going public

The New York Times
Updated as of Apr 30 08:58 AM

Should WeWork follow through on its plans, its initial public offering would be among the most eagerly anticipated in recent years. It was valued at $47 billion in an investment this year. Read more »

WeWork opens co-working space in Megaworld development

ABS-CBN News
Posted at Mar 07 08:56 AM

WeWork Uptown Bonifacio is the company's first in the Philippines after setting up shop in Vietnam and Malaysia, Megaworld said in a statement. Read more »