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He didn't need plans to fix it, Softbank got all the information they needed for their due diligence and invested. There are plenty of private companies with o
by rolltiide 7y ago
He didn't need plans to fix it, Softbank got all the information they needed for their due diligence and invested.
There are plenty of private companies with outside capital that are not structured for a stock market debut. WeWork was one of them and the investors tried to list it on the stock markets anyway.
Neumann played the best cards available to him and cemented his consolidated ownership, with a different share class becoming a mere conduit for payment, and voter control allowing for unilateral signing off on contracts to himself and his other entities.