Economy

Apple TV getting started with rise and fall WeWork | Financial

The miniseries follows “the greed-filled rise and inevitable fall of WeWork, one of the world’s most valuable startups, and the chaotic love of the narcissists who made it all possible,” AppleTV touts.

Growth brilliant

WeWork was founded in 2010. Until last year, the company was known as a growth brilliant, but in the pursuit of an IPO, investors discovered that the company was not exactly profitable. As a result, the company’s valuation plummeted.

In January 2019, the company was still valued at $ 47 billion, after the fuss it was only $ 8 billion. CEO Neumann was also discredited because he gave his family important positions and bought real estate with his own company that he then sold on to WeWork.

In April 2020, We Company, the parent company WeWork, took its largest shareholder SoftBank Group to court. The Japanese investor decided not to invest $ 3 billion in additional WeWork shares. With this, SoftBank has violated an existing contract, We Company believes, which wants compensation if SoftBank does not buy shares after all.

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