The We Company in April, it adopted a complicated corporate structure, called an umbrella partnership corporation, or Up-C. In effect, this turned WeWork into a limited liability company, with The We Company overseeing it and joint ventures in Asia, as well as other related entities, such as its fundThis chart from the S-1 shows how complicated it all is:
In its S-1, WeWork said the Up-C structure would give it more flexibility to pursue acquisitions, while keeping debts and obligations of its other businesses separate. Kulkarni said in an interview with CNBC that WeWork's business in Asia is still in the early stages of development, so the structure allows them to "isolate the losses" associated with it.
Kulkarni said he believes WeWork hasn't provided "sufficient disclosures around how the China and Asia assets are held" and that its confusing corporate structure could potentially present significant risks.The We Company disclosed who will serve on its board of directors in its IPO prospectus. Not a single womanon the company's seven-member board, which could potentially open it up to criticism later on down the line.
F’kin’ millennial B.$. WeWork
You forgot the strangest of all things - they pay/paid $6M to the CEO for the word We, which he has trademarked🙄
WeWork
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