Category: WeWork
OneWeb confirms layoffs and potential launch schedule delays amid reported bankruptcy considerations
Satellite operator OneWeb has confirmed that its workforce has been reduced via layoffs, after TechCrunch learned that it reduced its workforce by as much as 10 percent this week. The company did not confirm the total size of the layoff, but provided a statement to TechCrunch regarding the current state…
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SoftBank reportedly balks at commitment to buy $3B in shares from WeWork shareholders
The Wall Street Journal is reporting that SoftBank Group is using regulatory investigations as a way to back out of its commitment to buy $3 billion in shares from existing WeWork shareholders. WeWork’s spectacular train wreck of an initial public offering was an early harbinger that the good times might…
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How to buy back your startup from a tech giant like WeWork
When SEO and marketing company Conductor sold to WeWork in March 2018, it was a bit of a last-ditch effort. Leading up to the sale, Conductor’s executives and employees owned around 9% of the company, which had about $28 million in revenue. To make its mission a reality, Conductor needed…
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SoftBank-backed Indian startup Oyo to cut 5,000 jobs globally
Oyo said on Wednesday it is laying off 5,000 people from its global workforce as the Indian budget hotel startup looks to cut its spendings and chase profitability. The latest round of job cuts would reduce Oyo’s headcount to 25,000 in over 80 countries where it operates. An Oyo spokesperson…
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Karius raises $165 million for its liquid biopsy technology identifying diseases in a drop of blood
“What Karius is good at is identifying those novel microbes before they become an outbreak like coronavirus,” says Mickey Kertesz, a chief executive whose life sciences startup just hauled in $165 million in new funding. While the new money may have been raised under the looming threat of Covid 19,…
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Investors in LatAm get bitten by the hotel investment bug as Ayenda raises $8.7 million
Some of Latin America’s leading venture capital investors are now backing hotel chains. In fact, Ayenda, the largest hotel chain in Colombia, has raised $8.7 million in a new round of funding, according to the company. Led by Kaszek Ventures, the round will support the continued expansion of Ayenda’s chain…
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