WeWork is in talks with lenders led by JPMorgan Chase & Co. about a $5-billion debt package, seeking to ease a cash crunch that could leave the office-sharing company short of money as soon as next month, according to people familiar with the matter.
SoftBank Group Corp., the largest shareholder in WeWork, is in advanced talks to acquire more shares at a significantly lower valuation than the $47 billion WeWork had in January, said two people familiar with those discussions. SoftBank had already agreed to contribute another $1.5 billion to the company in April, according to WeWork’s now-withdrawn prospectus for an initial public offering.
Source: Loan Digest (loandigest.net)
Let’s turn We Work buildings into homeless service centers.
“The fast-growing, money-losing startup...” Lol, let’s lend then another billion dollars.
9186291898 and 9186391898
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WeWork is now reportedly talking with JPMorgan about a $5 billion credit line and could run out of cash next month without itThe amount under discussion is bigger than previously reported, and the amount of time before WeWork could run out of cash is significantly shorter. Gross They may need 10B. Time to restructure etc. 5B does not allow enough time. imo.
Source: BusinessInsider - 🏆 729. / 51 Read more »
WeWork Founder Adam Neumann’s Trove of Pricey PropertiesIn good times, the entrepreneur borrowed hundreds of millions, snapped up at least six homes, and was eyeing more. Then last month happened. Did he turn them into WeWorks? 😍😍😍 We work is a scam.
Source: WSJ - 🏆 98. / 63 Read more »
WeWork employee equity could be worth nothing in an IPO or bankruptcy - Business InsiderWeWork has indefinitely postponed its IPO and may run out of cash as soon as next month. That could spell disaster for the value of employee shares.
Source: BusinessInsider - 🏆 729. / 51 Read more »
WeWork to close its WeGrow elementary school in New York next yearWeWork said on Friday it will shut down its WeGrow private school in New York Ci... WeCrumble. I worked in a building in Manhattan, one that housed one of the first WeWorks. They were buying multiple floors in this building, kicking out long time tenants. I will never forget what super said to me. “This is a scam. No one ever can buy up/ lease this much real estate in Brewing.
Source: Reuters - 🏆 2. / 97 Read more »
Uber, WeWork investor Benchmark has a reputation for ousting founders - Business InsiderBenchmark's reputation as 'founder friendly' is under scrutiny after the VC firm helped remove WeWork's cofounder Adam Neumann.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Netflix, WeWork and others bolster L.A.'s office marketEntertainment, technology and co-working companies kept Los Angeles office landlords happy in the third quarter. Your city is burning up, and this is what you report on? LAwind
Source: latimes - 🏆 11. / 82 Read more »