Dr. Gleb Tsipursky – The Office Whisperer
Cat Johnson – Coworking Marketing Maven
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Andrea Pirrotti-Dranchak – Competitive Advantage
Jonathan Price – CRE & Flex Expert
Jeremy Fennema – Tech Innovation Alchemist
[bctt tweet=”SoftBank will provide $5 billion in new financing and $3 billion in a tender offer for current shareholders. After the deal is complete, SoftBank will have an 80% stake in WeWork.” username=”allwork_space”]
“SoftBank is a firm believer that the world is undergoing a massive transformation in the way people work. WeWork is at the forefront of this revolution,” said Masayoshi Son, SoftBank’s CEO. “Since the vision remains unchanged, SoftBank has decided to double down on the company by providing a significant capital infusion and operational support. We remain committed to WeWork, its employees, its member customers and landlords.”
SoftBank’s chief operating officer Marcelo Claure will be appointed to executive chairman of its board of directors.
Former WeWork CEO Adam Neumann will become a “board observer” as part of the deal. It was also reported that Neumann would receive $1.7 billion to walk away from the company and give up his voting rights.
This deal would value WeWork’s parent company, the We Company, between $7.5 billion and $8 billion — a massive cut from its $47 billion valuation it received earlier this year.
