“WeWork, the coworking unicorn startup whose IPO has been one of the most highly anticipated public offerings of 2019, has been imploding in recent weeks.
“The company, which was about to begin its roadshow to get public investors interested in buying its shares, postponed its IPO last week in a highly unusual move after investors have expressed concern about its business model and leadership structure.
“And now, reports indicate that some of the company’s board members, including officials representing SoftBank, its biggest investor, want to push out WeWork’s founder and CEO Adam Neumann.
“In the months and even years leading up to WeWork’s IPO push, concerns abounded about its massive losses, whether it’s really a tech company, and its hard-partying corporate culture.
“But investors seemed to be fine with WeWork’s many problems — until it registered to trade on the public markets.”
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