The great return ? More than a decade after founding the shared office company, WeWork, in 2010, Adam Neumann, who was pushed out in 2019, has intended for several months to buy it entirely or only its assets, according to information from New York Times. While the start-up almost went bankrupt in November 2023, in the midst of financial setbacks largely linked to the pandemic, the young entrepreneur hopes to make this acquisition thanks to funds from his new investment company, Flow Global.
And this, with the financial support of hedge fund manager Third Point and Silicon Valley's star investment fund, Andreessen Horowitz. The idea is to take over the company from the downside. It must be said that WeWork has lost a lot in recent years: listed at $47 billion during its IPO in October 2021, it has experienced a continuous fall since.
The American daily notably mentions a letter sent by Flow's lawyers to those of WeWork: "We are writing to express our dissatisfaction with WeWork's lack of commitment to even providing information to our customers in what is intended to be a value-maximizing transaction for all stakeholders.” At the center of the negotiations, the numerous rental contracts for office spaces whose rents are quite high.