WeWork To Sell Conductor SEO Company, Faces Looming Financial Crisis.

Conductor and two other WeWork acquisitions are said to be up for sale after WeWork’s aborted IPO filing.

Norshafa Wati30 Sep, 2019

WeWork To Sell Conductor SEO Company, Faces Looming Financial Crisis.

Earlier this month WeWork delayed its initial public offering (ipo) after it became clear that it has only enough cash to last until next spring and losing $1.4bn in the first half of this year - clearly under pressure to raise cash.

Following the real-estate company’s mismanaged IPO filing and immediately on the heels of the resignation of former WeWork CEO Adam Neumann, Conductor and two other WeWork acquisitions, Meetup and Managed by Q, are now up for sale as it looks to raise cash and cut costs.

WeWork CEO, Adam Neumann

Multiple potential buyers have reportedly expressed interest in the properties and the sales is said to be aiming to complete by early next year.

Meanwhile, SoftBank Group Corp.’s CEO Masayoshi Son businesses had more than $10 billion riding on the company in the form of stock and loans as well as taking a 29% stake, but now is worth about a quarter of the price SoftBank paid in January.

SoftBank Group Corp.’s CEO, Masayoshi Son

Privately valued at $47 billion after its most recent fundraising round, the public valuation of WeWork is now slashed to as low as $10 billion.

Norshafa WatiAuthor

Writer At BEAM

Share this Story

More Stories

BEAMSTART News covers the latest stories on Business, Finance, and Opportunities in Asia. We are an extension of global partnerships platform BEAMSTART.

Stay updated with us via our channels below:


Download the App

Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

© 2016 - 2020 BEAMSTART. All Rights Reserved.