Tag: WeWork
Silicon Valley should reward zebras, not unicorns
Rebecca Honeyman Contributor Silicon Valley has a unicorn problem. While no one is calling for startups with high valuations to go extinct, there ought to be a lot fewer of them. At least that’s what many young founders have concluded after looking at the trials and travails of billion-plus-dollar private…
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The first Vision Fund is officially done investing (and spent $100M every day of its existence)
There is a flurry of news out of SoftBank this morning, which announced its Fiscal Year 2019 (ending March 31, 2020) financial results overnight. It’s been a bad year for the Vision Fund, with huge losses at WeWork and Uber due to corporate incompetence, intrigue, and of course, COVID-19. But…
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The great unicorn retreat
Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. Today we’re taking stock of what’s happening to a number of unicorns, both public and private. This is the third time we’ve sat down to document what feels like a…
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WeWork co-founder Adam Neumann accuses SoftBank of abusing its power in new lawsuit
WeWork co-founder Adam Neumann accused SoftBank Group of abusing its power in a new lawsuit filed Monday that alleges breach of contract and breach of fiduciary duty for pulling a $3 billion tender offer for WeWork shares. The lawsuit, filed in Delaware Court of Chancery, included a motion to consolidate…
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SoftBank-backed Oyo cuts salaries, furloughs employees
Oyo is furloughing more employees globally and levying a 25% pay cut across the board through July this year as the Indian budget lodging startup looks to reduce its expenses to deal with the coronavirus pandemic that has slashed its revenue by about 60%. Rohit Kapoor, chief executive of Oyo,…
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Frank raises $5M more in its quest to get students max financial aid
Frank, a New York-based student-facing startup, has raised $5 million in what the company described as an “interim strategic round” led by Chegg, a public edtech company. According to Frank founder and CEO Charlie Javice, previous investors Aleph and Marc Rowan took part in the round alongside new investor GingerBread…
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