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SoftBank is asking for the WeWork IPO to be put on hold
- james-mcelwain 7y agoMy favorite WeWork anecdote is the company paying the CEO 6 million dollars for the trademark "We" (which he later returned under pressure). Say what you will, but you have to respect the grift.
- mitchus 7y agoHe certainly has the trademark for "I".
- downrightmike 7y agoLet it ipo and crash. Really the only rational thing to do.
- privateSFacct 7y agoI wondered if this was because they don't want to mark down their investment and take a public loss. Yep - article seems to support that. Makes sense though - softbank's business model seems to depend somehow on these mega funds. Be good to get more data on their performance (I'm skeptical).
- InTheArena 7y agoIt sure seems like Softbank is a house of cards. This seems like the most likely place for the cards to come crashing down.
- Ambele 7y ago> WeWork could cut the valuation for its IPO to under $20 billion and may even postpone the offering, The Wall Street Journal reported on Sunday, citing unnamed sources. The company had been valued at $47 billion in its last fundraising round. > According to the report, SoftBank is concerned that if WeWork goes public at a valuation much lower than its private-market valuation, it might hurt the firm's ability to raise its second Vision Fund, hence its choice to pressure the company into dropping its IPO plans.
- dmfjfj 7y agoIs postponing simply delaying the inevitable write-down? I can’t see how their financial statements will improve by postponing for another few years. Can someone explain the rationale?