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Hip office startup WeWork losing 94 cents a minute per member

CBS News Wednesday, 14 August 2019
The office-sharing company's losses per customer are far bigger than Uber's -- that could hurt its initial public offering.
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Star up WeWork continues to flounder. In 2019 troubled start up WeWork pulled its IPO. The company reduced the size of the IPO after consumers lost interest in the company. Cofounder Adam Neumann was ousted as CEO and chairman. Real-estate veteran Sandeep Mathrani started as CEO in February. In April, investor SoftBank backed out of its plan to buy $3 billion worth of WeWork shares, including nearly $1 billion from Neumann. Two of WeWork's board members then sued the investor.

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Credit: Wochit News    Duration: 00:39Published

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