
SoftBank is asking for the WeWork IPO to be put on hold - tempsy
https://www.businessinsider.com/wework-pressured-by-softbank-to-shelve-ipo-report-2019-9
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james-mcelwain
My favorite WeWork anecdote is the company paying the CEO 6 million dollars
for the trademark "We" (which he later returned under pressure).

Say what you will, but you have to respect the grift.

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mitchus
He certainly has the trademark for "I".

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Ambele
> WeWork could cut the valuation for its IPO to under $20 billion and may even
> postpone the offering, The Wall Street Journal reported on Sunday, citing
> unnamed sources. The company had been valued at $47 billion in its last
> fundraising round.

> According to the report, SoftBank is concerned that if WeWork goes public at
> a valuation much lower than its private-market valuation, it might hurt the
> firm's ability to raise its second Vision Fund, hence its choice to pressure
> the company into dropping its IPO plans.

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dmfjfj
Is postponing simply delaying the inevitable write-down? I can’t see how their
financial statements will improve by postponing for another few years. Can
someone explain the rationale?

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downrightmike
Let it ipo and crash. Really the only rational thing to do.

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privateSFacct
I wondered if this was because they don't want to mark down their investment
and take a public loss. Yep - article seems to support that.

Makes sense though - softbank's business model seems to depend somehow on
these mega funds. Be good to get more data on their performance (I'm
skeptical).

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InTheArena
It sure seems like Softbank is a house of cards. This seems like the most
likely place for the cards to come crashing down.

