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WeWork Files for Bankruptcy, Now Worth Less than $50M from $47B Valuation

WeWork has filed to begin bankruptcy proceedings to protect itself as it reorganizes debt in US and Canada only. Co-working space provider WeWork Inc (NYSE: WE) has filed for Chapter 11 bankruptcy in New Jersey federal court. The bankruptcy filing is expected to protect the company from action against landlords and creditors as the company tries to manage its heavy debt. WeWork is now worth less than $50 million, from a $47 billion valuation back in 2019. WeWork Bankruptcy In a...

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GE Healthcare IPO Expected to Overtake Airbnb and Be the Largest in 2020 with $60B Valuation

The initial public offering (IPO) market for 2020 is widely-anticipated in the finance industry. This is because more than a few companies last year, expressed intentions to go public sometime this year. While last year was a somewhat disappointing year for IPOs, 2020 is expected to be better. Top of the list is the GE Healthcare IPO and that of Airbnb as well.GE Healthcare IPO 2020American multinational healthcare manufacturing conglomerate GE Healthcare will go for an IPO this year. The...

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Airbnb, DoorDash and 16 other Companies Are Set for IPO in 2020

Airbnb, DoorDash, and GitLab are among 18 unicorn companies that are set to run an initial public offering (IPO) sometime in 2020. The expectation for a more definite announcement at some point this year, already means that there is more than enough to anticipate in the financial clime. While there will most likely still be more public announcements, these 18 are already making the rounds.The market for initial public offerings in 2019 was a little disappointing, to say the least. Compared to...

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WeWork Sells Managed by Q Unit at an Incredibly Low Price

The U.S.-based provider of shared workspaces for technology startups and services for other enterprises WeWork sells Managed by Q unit acquired earlier this year. As the company’s spokesperson stated, the sum of purchase made up about $220 million at that time, however, now the deal will cost less than a quarter of this price.According to Bloomberg, the decision to sell Managed by Q results from WeWork’s need to cut its costs and unload assets. Currently, WeWork is in private talks with...

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Jamie Dimon macht mit WeWork Börsengang Milliardenverlust

Ein Coworking Space von WeWork, Chancery Lane, London Als der JP Morgans CEO Jamie Dimon Mitte November erklärte, dass der Coworking Space und Büroflächen-Vermieter WeWork überleben wird, kam das vielen wie eine Durchhalteparole vor. Und das zu Recht. Das Unternehmen hätte kürzlich an die Börse gehen sollen und wurde unlängst von Analysten mit einem Wert von mehr als 47 Milliarden US-Dollar bewertet. Das ist mehr als eine Verdopplung...

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NYSE-Listed Silvergate Is the Year’s Winner in Both Traditional and Crypto Sector

As we are coming to the year’s end we somehow always tend to look in the past to reconcile what was good and what wasn’t. Speaking of the IPOs, we can surely say this year was marked by numerous IPO failures with more than half of stock market debuts now trading below their initial offering.We can just mention hail-raiding companies as are Uber and Lyft who were probably the biggest losers of the year. However, there were also plenty of unicorns that got smashed in 2019 including Peloton (the...

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Ripple-Backed Omni Announces Closure, Coinbase Shows Interest in Hiring Its Developers

It looks like the digital storage and rental marketplace Omni has been struggling to make ends meet. In the latest development, Omni has announced its intentions to shut down its operations by the end of 2019.This announcement comes just within a few months after the rental startup sold its physical storage operations to its competitor Clutter in May 2019. A report from the TechCrunch states that $35 million worth Omni is yet another victim of a “venture capital-subsidized business”. Meaning...

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WeWork Set to Layoff about 2400 Employees

In what seems like an end to a disappointing year for troubled startup WeWork the company recently announced its intention to lay off 2,400 workers from the company following near collapse. The once-famed startup announced this on Thursday. The layoffs amount to roughly 20% of its 12,500 strong workforces. Some more layoffs of over 1,000 people are expected as several business units of the company are going to be shut down, merged or sold off as the company refocuses and resets several...

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SoftBank Invested $18.5 Billion in WeWork to Rescue the Real Estate Company

Lately, an American real estate company that provides shared workspaces for technology startups WeWork has been experiencing hard times. Because of the crisis, the firm abandoned its IPO plan, forfeited its CEO Adam Neumann, and found itself on the brink of bankruptcy. When WeWork gave up all hopes of survival, a Japanese multinational conglomerate SoftBank stepped in and made an attempt to save the firm with a capital infusion of about $8 billion. As we have reported, Softbank provided the...

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