News Muncher - searching for wework

1 year, 2 months ago

Japan’s SoftBank hit with $6.2B quarterly loss as WeWork, other tech investments go sour

TOKYO — Japanese technology company SoftBank Group Corp. racked up a huge loss in the July-September quarter as its technology investments, most notably office-sharing company WeWork, went sour. Tokyo-based SoftBank loss totaled 931 billion yen in the last quarter, a reversal from the 3 trillion yen profit it posted in the same period a year earlier. SoftBank’s chief financial officer, …

Japan Company Billion Tokyo Softbank Wework Goto

1 year, 2 months ago

WeWork's nosedive costs SoftBank billions, damages Masayoshi Son's credibility

Hindustan Times

WeWork Inc.’s bankruptcy filing caps a years-long saga that revealed breathtaking flaws in the investment style of Japanese billionaire Masayoshi Son, damaging his professional reputation far beyond the money he lost. Son overrode his lieutenants’ objections and handed WeWork founder Adam Neumann billions of dollars from both SoftBank Group Corp. and the Vision Fund, lifting the co-working office space’s valuation …

Vision Fund Billion Son Ipo Venture Capital Softbank

1 year, 2 months ago

WeWork, once most valuable U.S. startup, files for bankruptcy with liabilities worth $10-$50bn

Hindustan Times

WeWork, the SoftBank Group-backed startup whose meteoric rise and fall reshaped the office sector globally, sought U.S. bankruptcy protection on Monday, after its bets on companies using more of its office-sharing space soured. "WeWork could use provisions of the U.S. bankruptcy code to rid itself of onerous leases," law firm Cadwalader, Wickersham & Taft LLP said in a note to …

Bankruptcy Billion Leases Softbank Wework

1 year, 2 months ago

WeWork’s multibillion-dollar rescue couldn’t save it from office bust

LA Times

Embattled office-sharing firm WeWork on Aug. 8 warned U.S. regulators that it was in financial peril. When WeWork announced a multibillion-dollar rescue package earlier this year, the company’s management hailed it as a fresh start for the long-struggling global network of shared office spaces. “That means the company is likely to reorganize in Chapter 11 and continue operating in order …

Company Bankruptcy Billion Filing Softbank Wework Office Lease

1 year, 5 months ago

Once worth $47 billion, WeWork shares near zero after bankruptcy warning

Hindustan Times

WeWork shares approached zero on Wednesday after the one-time startup darling warned it could go bankrupt in a stunning reversal of fortune for a company that was once privately valued at $47 billion. Since its debut through a blank-check merger in October 2021, WeWork's shares have lost nearly all of their value, and were trading on Wednesday at 13 cents …

India Company Softbank 47 Billion Warning Wework Wework Shares Warning Wework Shares

2 years, 11 months ago

Jared Leto stars as WeWork founder Adam Neumann alongside Anne Hathaway in new trailer for WeCrashed

Daily Mail

Jared Leto and Anne Hathaway star as Adam and Rebekah Neumann in the dramatic new trailer for WeCrashed which focuses on the incredible rise and fall of their shared workspace startup WeWork. Trouble: Jared Leto and Anne Hathaway star as Adam and Rebekah Neumann in the dramatic new trailer for WeCrashed which focuses on the incredible rise and fall of …

Japanese Company Fall Investors 2019 Jared Rise

3 years, 4 months ago

The Cult of We Review: Brown and Farrell's definitive documentation of how WeWork thrived and eventually crashed

Firstpost

The larger question the book addresses is: What made a startup which was once valued at close to $96 billion in September 2018 implode so quickly that its valuation was stripped down to $2.9 billion by May 2021? Masayoshi Son’s generosity gave Neumann’s recklessness the required escape velocity The story of WeWork and Neumann cannot be separated from the hubris …

Authors Silicon Valley Billion Book Son Lot Venture Capital

3 years, 7 months ago

Former WeWork chief’s gargantuan exit package gets new sweetener

Live Mint

Nearly two years ago, SoftBank Group Corp. sought to part ways with WeWork co-founder Adam Neumann when it bailed out the shared-office company. Securities filings from earlier this month show WeWork in February gave Mr. Neumann an enhanced stock award worth roughly $245 million, a benefit that wasn’t extended to other early shareholders and hasn’t been previously reported. The filings …

Company Stock Million Deal Ipo Package Softbank

3 years, 9 months ago

WeWork revives plans to go public, this time with a SPAC deal

Al Jazeera

Office-sharing firm WeWork, valued as high as $47bn two years ago, will try again to go public, this time through a special purpose acquisition company merger that values the firm at $9bn. WeWork agreed to sell itself to a blank-check company in a deal to take the troubled office-sharing startup public almost two years after a high-profile failed listing. New …

Company Deal Spac Softbank Neumann Wework

3 years, 10 months ago

WeWork's Adam Neumann will get $50million payout from SoftBank

Daily Mail

WeWork co-founder and former Chief Executive Adam Neumann is expected to pull in an additional $50million on top of other benefits as part of his agreement with SoftBank Group Corp. People familiar with the matter say that the deal sets Neumann apart from other WeWork shareholders, the Wall Street Journal reports. It would see Neumann take an almost $500 million …

Company Billion Deal Ipo Spac Softbank Neumann

4 years, 2 months ago

SoftBank resumes buybacks with modest $380 million in September

Live Mint

SoftBank Group Corp. resumed buying back shares in September, shelling out ¥40.1 billion after suspending in August a multi-billion-dollar program that’s proven instrumental in buoying the stock. Masayoshi Son’s conglomerate bought back 6.17 million shares last month, it said in a filing Wednesday, part of a now half-completed 2.5 trillion yen buyback program. The Japanese company resumed buying on Sept. …

Softbank Company Resumed Resumes Buybacks

4 years, 5 months ago

Japan tech giant SoftBank’s profits rise on investments

Associated Press

TOKYO — Japanese technology giant SoftBank Group Corp.'s said Tuesday that its profit rose 12% in April-June from a year earlier as its investments added to its coffers, including sales of its shares in U.S. carrier T-Mobile. Tokyo-based SoftBank reported Tuesday a fiscal first quarter profit of 1.2 trillion yen, up from 1.1 trillion yen in the previous fiscal year. …

Japan Company Tokyo Softbank

4 years, 7 months ago

Warren Buffett and Masa Son swung for the fences and missed

CNN

New York CNN Business — SoftBank is often described as the Berkshire Hathaway of tech. But the investing track records for the Japanese firm run by Masayoshi Son and Berkshire’s Warren Buffett have soured lately. Buffett also made a huge bet on the airline sector in recent years – only to disclose at Berkshire Hathaway’s annual shareholder meeting that the …

Son Stake Berkshire Hathaway Buffett Softbank Berkshire Ual

4 years, 8 months ago

SoftBank warns of even steeper losses as it takes a $6.6 billion hit on WeWork

CNN

Tokyo CNN Business — SoftBank is warning that it will fall deeper into the red, just two weeks after it shocked investors by forecasting a record annual loss. The firm said it expects to lose 700 billion yen on a portion of its investment in the troubled coworking provider WeWork that it holds outside of its $100 billion Vision Fund. …

Fund Billion Softbank Wework Vision Fund

4 years, 8 months ago

SoftBank warns of huge losses as Vision Fund value collapses

CNN

London CNN Business — SoftBank warned Monday that it expected to post its first operating loss in 15 years because of a collapse in the value of its flagship tech investments. The Vision Fund is expected to report losses amounting to 1.8 trillion yen due to “the deteriorating market environment,” the company said in a statement. Big losses on other …

Vision Fund Softbank Wework Vision Fund

4 years, 9 months ago

WeWork sues SoftBank for bailing on $3 billion share buyout agreed to in October

CNN

Hong Kong CNN Business — WeWork is suing SoftBank for abandoning a $3 billion share buyoutand accusing the Japanese company of inventing reasons to back out of the plan, as financial pressure mounts and the Covid-19 pandemic worsens. In a lawsuit filed in the Delaware Court of Chancery on Tuesday, the special committee of WeWork’s board said SoftBank and CEO …

Share Softbank Wework Sues

4 years, 9 months ago

WeWork founder Adam Neumann loses out as SoftBank scraps share buyout

CNN

Hong Kong CNN Business — SoftBank is walking away from a sizeable chunk of its WeWork rescue package, which included a near billion dollar windfall for ousted founder Adam Neumann. The about face cuts deep for Neumann — the October agreement had included an offer to buy up to $975 million worth of the WeWork founder’s shares —and is further …

Share Billion Son Softbank Neumann Wework

4 years, 9 months ago

SoftBank threatens to unravel $3-billion WeWork stock deal

LA Times

A delay or cancellation of SoftBank’s offer to buy stock in WeWork would cut off a source of income many former and current WeWork employees had been counting on. The WeWork stock purchase was part of a rescue financing from SoftBank after WeWork’s failed initial public offering last year. A delay or cancellation of the offer to buy stock would …

Bloomberg Softbank Threatens Wework Stock

4 years, 10 months ago

These startups raised billions and then laid off thousands. Workers are shocked and frustrated

CNN

New York CNN Business — Just a few months ago, discount hotel chain OYO seemed unstoppable. The goal, according to a memo at the time that Fair.com directed CNN Business to from its then-CEO, was to “be a smaller team, focused on doing fewer things well.” One laid off Canvas-turned Fair employee said it was “a rollercoaster.” Meanwhile, Wag, a …

Business Tech Startup Startups Companies San Francisco Company

4 years, 10 months ago

SoftBank’s Masayoshi Son considers new type of fund for startup investing

Live Mint

SoftBank Group Corp. founder Masayoshi Son said he is considering a new type of fund for startup investing, showing his determination to keep cutting deals after missteps with WeWork and several other companies. “So before we officially launch SoftBank Vision Fund 2, maybe we start from a smaller scale and start from a shorter period in terms of investment as …

Investment Vision Startup Fund Billion Son Vision Fund

4 years, 10 months ago

SoftBank’s profit drop amid WeWork worries, Sprint approval

Associated Press

TOKYO — Japanese technology conglomerate SoftBank Group Corp. said its profit for the last quarter dropped amid worries about the perceived risk of its investments into companies like WeWork. Tokyo-based SoftBank said Wednesday its profit for the October-December quarter stood at 55 billion yen, down to less than a tenth of the 698 billion it earned over the three months …

Tokyo Wework Drop Amid Sprint Softbank

4 years, 10 months ago

Vision Fund losses drag down SoftBank profits by 99%

CNN

Hong Kong CNN Business — SoftBank profits have been almost entirely wiped out, as the company continues to feel the pain from big losses in its massive tech fund. SoftBank founder and CEO Masayoshi Son’s closely watched $100 billion Vision Fund was the biggest driver of those losses. But WeWork’s failed IPO and Uber’s declining share price “have caused concern …

Companies Sprint Fund Billion Son Goyal Elliott

4 years, 11 months ago

SoftBank stock jumps nearly 12% after US judge approves T-Mobile-Sprint merger

CNN

Hong Kong CNN Business — A massive bet on Sprint is finally paying off for Masayoshi Son. Shares in his company SoftBank rallied on Wednesday, after a US court approved the $26 billion merger between T-Mobile and Sprint, the carrier SoftBank acquired nearly a decade ago. SoftBank stock closed up nearly 12% ahead of its quarterly earnings Wednesday in Tokyo. …

Sprint Softbank

4 years, 11 months ago

SoftBank’s big bets have backfired. Now it’s under scrutiny from a legendary activist investor

CNN

New York CNN Business — SoftBank is under pressure from a legendary activist investor after a series of bets on money-losing startups backfired on the Japanese tech giant. New York-based Elliott Management revealed Thursday it has built a “substantial” stake in SoftBank, the firm run by billionaire Masa Son known for its $100 billion Vision Fund. Elliott, one of the …

Investment Cnn Elliott Investor Softbank Wework Cnn Business

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Articles for Softbank, search results for wework

Japan’s SoftBank hit with $6.2B quarterly loss as WeWork, other tech investments go sour

WeWork's nosedive costs SoftBank billions, damages Masayoshi Son's credibility

WeWork, once most valuable U.S. startup, files for bankruptcy with liabilities worth $10-$50bn

WeWork’s multibillion-dollar rescue couldn’t save it from office bust

Once worth $47 billion, WeWork shares near zero after bankruptcy warning

Jared Leto stars as WeWork founder Adam Neumann alongside Anne Hathaway in new trailer for WeCrashed

The Cult of We Review: Brown and Farrell's definitive documentation of how WeWork thrived and eventually crashed

Former WeWork chief’s gargantuan exit package gets new sweetener

WeWork revives plans to go public, this time with a SPAC deal

WeWork's Adam Neumann will get $50million payout from SoftBank

SoftBank resumes buybacks with modest $380 million in September

Japan tech giant SoftBank’s profits rise on investments

Warren Buffett and Masa Son swung for the fences and missed

SoftBank warns of even steeper losses as it takes a $6.6 billion hit on WeWork

SoftBank warns of huge losses as Vision Fund value collapses

WeWork sues SoftBank for bailing on $3 billion share buyout agreed to in October

WeWork founder Adam Neumann loses out as SoftBank scraps share buyout

SoftBank threatens to unravel $3-billion WeWork stock deal

These startups raised billions and then laid off thousands. Workers are shocked and frustrated

SoftBank’s Masayoshi Son considers new type of fund for startup investing

SoftBank’s profit drop amid WeWork worries, Sprint approval

Vision Fund losses drag down SoftBank profits by 99%

SoftBank stock jumps nearly 12% after US judge approves T-Mobile-Sprint merger

SoftBank’s big bets have backfired. Now it’s under scrutiny from a legendary activist investor