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How Softbank turned WeWork around

2021-06-21T03:58:12.467Z

DECRYPTION - Marcelo Claure, number two at Softbank and executive chairman of WeWork, unveils the new strategy.



“WeWork's business model is one of the strongest there is.”

The statement by Marcelo Claure, managing director of Japanese technology fund Softbank and executive chairman of WeWork, comes as a surprise as the start-up came close to disaster in 2019. WeWork, a shared workspace specialist, suffered a loss of $ 3 billion.

Last spring, his dreams of an IPO were shattered under the influence of analysts who crushed his economic model.

Even Masayoshi Son, the boss and founder of Softbank, explained in an interview with

Forbes

that his $ 9 billion investment in WeWork was

"a mistake

.

"

Read also:

How WeWork was weighed down by the follies of its founder

Last year, Softbank whistled the end of recess.

The turbulent founder of WeWork, Adam Neumann, has been dismissed by his largest shareholder.

Softbank has put a shock team at the helm of the company.

Under the aegis of Marcelo Claure, the past has been settled and a new future is emerging.

The building stock has been reduced

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Source: lefigaro

All business articles on 2021-06-21

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