CNBC: WeWork is now doing good
Peter Weinberg, CEO of Perella Weinberg Partners, is convinced, that his company is doing good. His opinion is somewhat in conflict with the company’s recent history. In the beginning of 2019 WeWork was a promising enterprise, that was about to go public with a valuation of over US$47 billion. Later, however, it all went downhill. In Summer the company has admitted a US$900 million losses and canceled its IPO. Then the CEO Adam Neumann lost his position. Then the WeWork has almost lost all of its funding. The whole company was saved by the bailout from SoftBank – the company’s largest investor.
Weinberg admits, that it was a harsh period. Yet it is, allegedly, all in the past. According to the CEO, SoftBank is supporting WeWork and is sure, that the company will grow globally in the upcoming five years.