|
WeWork
WeWork Inc., headquartered in New York City, is a provider of coworking spaces, including physical and virtual shared spaces, in approximately 600 buildings in 125 cities. WeWork was founded in 2010 by Adam Neumann and Miguel McKelvey. Over the following 10 years, the company raised $12.8 billion in financing at valuations as high as $47 billion, mostly from the SoftBank Vision Fund, led by Masayoshi Son. In September 2019, the company filed documentation to become a public company and revealed issues with corporate governance. Investors forced both the cancellation of the IPO and the resignation of Neumann. The company filed for bankruptcy in November 2023. As part of the bankruptcy reorganization, in 2024, Cupar Grimmond (an affiliate of Yardi Systems) acquired a 60% stake in the company, 20% was acquired by affiliates of SoftBank, and 20% was acquired by other investors. The company shrank its operations, selling all owned real estate and cancelling or amending hundreds o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Neumann
Adam Neumann (; born April 25, 1979) is an Israeli-American billionaire businessman and investor. In 2010, he co-founded WeWork with Miguel McKelvey, where he was CEO from 2010 to 2019. In 2019, he co-founded a family office dubbed 166 2nd Financial Services with his wife, Rebekah Neumann, to manage their personal wealth, investing over a billion dollars in real estate and venture startups. Following mounting pressure from investors based on disclosures made in a public offering filing, Neumann resigned as CEO of WeWork and gave up majority voting control . ''Forbes'' estimated his net worth to be around US$2.2 billion . Early life Neumann was born and raised in Beersheba, Israel. His parents divorced when he was seven, and he had lived in 13 different homes by the time he was 22. His younger sister is a model and former Miss Teen Israel. He has dyslexia and could not read or write until he was in third grade. In his teens, he lived on a kibbutz in southern Israel. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Miguel McKelvey
Miguel McKelvey (born 1974) is an American businessman, and the co-founder and former chief culture officer of WeWork. Early life McKelvey grew up in a "five-mother collective" in Eugene, Oregon. His family started and ran a weekly newspaper called the ''Eugene Weekly.'' In a January 2020 interview with Fortune, McKelvey called himself "a wild kid" on the high school basketball court. He said that he found a sense of accountability from his coach, who was a strict disciplinarian. He said of Coach Stepp, "I didn’t grow up with my father, so I never had someone telling me to keep in line." He graduated from South Eugene High School in 1992. McKelvey first attended Colorado College and, after seeing a sculpture he created, his professor, Carl Reed, recommended he consider architecture for graduate school. He transferred to the University of Oregon where he earned a Bachelor of Architecture degree in 1999. McKelvey played on the Oregon Ducks basketball team for two years. How ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SoftBank
is a Japanese multinational Investment company, investment holding company headquartered in Minato, Tokyo, that focuses on investment management. The group primarily invests in companies operating in technology that offer goods and services to customers in a multitude of markets and industries ranging from the internet to automation. With over $100 billion in capital at its onset, SoftBank's SoftBank Vision Fund, Vision Fund is the world's largest technology-focused venture capital fund. Fund investors included sovereign wealth funds from countries in the Middle East. The company is known for the leadership of its controversial founder and largest shareholder Masayoshi Son. Its investee companies, subsidiaries and divisions, including several unprofitable Unicorn (finance), unicorns, operate in robotics, artificial intelligence, software, logistics, transportation, biotechnology, robotic process automation, Property technology, proptech, real estate, hospitality, broadband, f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yardi Systems
Yardi Systems, Inc. is an investment, asset and property management software vendor for the real estate industry. It provides products such as property management platforms and software. History Yardi Systems was founded by IIT Delhi alumnus, Anant Yardi in Santa Barbara, California. In 2010, Yardi Systems launched Yardi CRM, as part of the company's suite of property management software and integrated it with its own product, Yardi Voyager, a platform designed for real estate management. The year also marked the acquisition of online real estate database, PropertyShark. By 2017, Yardi Systems would expand to 35 offices worldwide, keeping its headquarters in the United States. In 2021, Yardi Systems acquired and redesigned listing service 42Floors.com adding it to its marketplace network, CommercialEdge. The year also marked the launch of a new product suite, Yardi Corom, which offers lease management, occupancy tracking and desk hoteling for flexible workplaces. In 2022, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Masayoshi Son
Masayoshi Son (, , born Masayoshi Yasumoto, ; August 11, 1957) is an entrepreneur, investor, and philanthropist from Japan. A Zainichi Korean, he is the founder, representative director, corporate officer, chairman and CEO of SoftBank Group (SBG), a technology-focused investment holding company, as well as chairman of UK-based Arm Holdings and US-based Stargate LLC. As an entrepreneur, he achieved notability in PC software distribution, computing-related book and magazine publishing, and telecommunications in Japan, starting in the 1980s and booming throughout the 1990s and 2000s. His early $20 million investment in Alibaba Group in 2000 grew substantially over the years, reaching a valuation of around $75 billion by 2014 following Alibaba's IPO and contributing significantly to SoftBank's financial success. SoftBank's 27 percent stake in Alibaba was worth $132 billion in 2018, including additional purchases of the stock since 2000. The morphing of his own telecom company Sof ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joel Schreiber
Joel Schreiber is a British-born American real estate developer, investor, and founder of Waterbridge Capital. Biography Schreiber was born to a Hasidic Jewish family in London. He moved to New York City and in 2000 – with the help of his family and private investors – purchased residential real estate in Brooklyn, upstate New York, and New Jersey. In 2004, he sold most of the residential portfolio to concentrate on commercial properties in Manhattan. In 2006, he founded Waterbridge Capital as a vehicle for his investments. Waterbridge generally leaves the development of properties to its partners and focuses on raising capital and finding partners. His first major investment was the $190 million purchase of 536 Broadway in 2007. In 2010, he purchased a 33-percent interest in WeWork (founded by Adam Neumann and Miguel McKelvey) for $15 million after meeting the founders who were inquiring about a potential lease. McKelvey stated that the deal was a pivotal moment for the comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coworking
Coworking is an arrangement in which workers for different companies share an office space. It allows cost savings and convenience through the use of common infrastructures, such as equipment, utilities and receptionist and custodial services, and in some cases refreshments and parcel acceptance services. It is attractive to independent contractors, independent scientists, remote workers, digital nomads, and people who travel frequently. Additionally, coworking helps workers avoid the feeling of social isolation they may experience while remote working or traveling and eliminate distractions in home office. Most coworking spaces charge membership dues. Major companies that provide coworking space and serviced offices include WeWork, IWG plc, Industrious, and Impact Hub. Types Coworking is not only about providing a physical place, but also about establishing a community. Its rapid growth has been seen as a possible way for city planners to address the decline of high str ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SoftBank Vision Fund
The SoftBank Vision Fund is a venture capital fund founded in 2017. It is managed by SoftBank Investment Advisers, a subsidiary of the SoftBank Group. With over $100 billion in capital, it is the world's largest technology-focused investment fund. In 2019, SoftBank Vision Fund 2 was founded. History The Softbank Vision Fund was created in May 2017 by the SoftBank Group and the Public Investment Fund (PIF). $100 billion was raised with PIF contributing $45 billion, SoftBank contributing $28 billion, the Mubadala Investment Company contributing $15 billion and the rest from other investors including Apple Inc., Apple. Through Softbank Vision Fund, Masayoshi Son explained his intent to invest in all companies developing technologies in line with the global artificial intelligence trends, including various sectors such as finance or transportation. As of early February 2019, the Vision Fund had built up a 4.9% position in Nvidia stock, and then was forced ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Daily News
The ''Daily News'' is an American newspaper based in Jersey City, New Jersey. It was founded in 1919 by Joseph Medill Patterson in New York City as the ''Illustrated Daily News''. It was the first U.S. daily printed in Tabloid (newspaper format), tabloid format, and reached its peak circulation in 1947, at 2.4 million copies a day. it was the eleventh-highest circulated newspaper in the United States. For much of the 20th century, the paper operated out of the historic art deco Daily News Building with its large globe in the lobby. Today's ''Daily News'' is not connected to the earlier ''New York Daily News (19th century), New York Daily News'', which shut down in 1906. The ''Daily News'' is owned by parent company Daily News Enterprises. This company is owned by Alden Global Capital and was formed when Alden, which also owns news media publisher Digital First Media, purchased then-owner Tribune Publishing in May 2021 and then separated the ''Daily News'' from Tribune to form ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
