In less than one year, WeWork went from having a $47 billion valuation and being the darling of the venture capital world to needing an $8 billion infusion to avoid running out of money. This is the story of Adam Neumann, Softbank’s risky investment, a failed IPO and how we got here.
Insight and analysis of top stories from our award winning magazine “Bloomberg Businessweek”.
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The Ned, the glamorous hotel and members club in the heart of the city of London, is having a hard time recovering from the fallout of Covid-19 and the pandemic.
The 250-room hotel, which houses 10 restaurants, 17 bars and lounges and a members-only spa, posted revenue of a little over £34.2 million ($40.4 million) in 2021. That’s less than half what it was in 2019, when the property, part of the Membership Collective Group, saw almost £77.3 million.