Posts filtered by tags: Neumann[x]


 

A WeWork exec who was Rebecca Neumann's cousin regularly ran up huge expense reports before other execs ganged up and forced him out

In the summer of 2018, a woman who worked on WeWork's real estate team sent the company a document filled with allegations involving the partying lifestyle of multiple members of the team. The document sparked an internal investigation and the eventual exit of WeWork real estate executive Mark Lapidus. His expense reports per records viewed by Business Insider, while not part of the woman's allegations, offers a window into a wild lifestyle enabled by WeWork money. Read the full story: WeWork ...
Tags: London, Softbank, Trends, Las Vegas, WeWork, Signal, Business Insider, Neumann, Wynn, Adam Neumann, Encore Beach Club, ICSC, Lapidus, Mark Lapidus, International Council of Shopping Centers ICSC, Rebecca Neumann


WeWork paid over $2 million to a woman who threatened to expose claims of sex, illegal drugs and discrimination in a horrifying 50-page document

In the spring of 2018, a woman who once worked in WeWork's real estate business sent the company a 50-page document alleging drug use, sexual harassment and pay discrimination. The document, which set out the terms of a threatened lawsuit, was obtained by Business Insider. The allegations risked disrupting WeWork's meteoric rise and a planned fundraising, and sparked a flurry of activity as senior leaders sought to verify which, if any, of the claims were true.  With at least one external law ...
Tags: New York, London, Molly, Softbank, Israel, Trends, Las Vegas, WeWork, Summer Camp, Signal, Business Insider, Company, Neumann, Wynn, EEOC, Equal Employment Opportunity Commission


WeWork paid over $2 million in cash to a woman who threatened to expose claims of sex, illegal drugs, and discrimination in a horrifying 50-page document

In the spring of 2018, a woman who once worked in WeWork's real estate business sent the company a 50-page document alleging drug use, sexual harassment, and pay discrimination. The document, which set out the terms of a threatened lawsuit, was obtained by Business Insider. The allegations risked disrupting WeWork's meteoric rise and a planned fundraising, and sparked a flurry of activity as senior leaders sought to verify which, if any, of the claims were true.  With at least one external law...
Tags: New York, London, Molly, Softbank, Israel, Trends, Las Vegas, WeWork, Summer Camp, Signal, Business Insider, Company, Neumann, Wynn, EEOC, Equal Employment Opportunity Commission


Bosses frequently slept with subordinates at WeWork

Under Adam Neumann, inter-office relationships at WeWork proliferated, according to a Business Insider investigation. In 2018, a woman on the real estate team sent the company a 50-page letter of wide-ranging allegations about the company's culture, including about relationships between colleagues and between subordinates and their managers. That document, which led to a company investigation, eventually resulted in a more than $2 million settlement. Now, WeWork's new CEO said he's leading a c...
Tags: US, Trends, Silicon Valley, WeWork, Signal, Neumann, Adam Neumann, Sandeep Mathrani, Miguel McKelvey, Business Insider WeWork, Summer Camp WeWork


Bosses sleeping with subordinates ran rampant at WeWork

Under Adam Neumann, inter-office relationships at WeWork proliferated, according to a Business Insider investigation. In 2018, a woman on the real estate team sent the company a 50-page letter of wide-ranging allegations about the company's culture, including about relationships between colleagues and between subordinates and their managers. That document, which led to a company investigation, eventually resulted in a more than $2 million settlement. Now, WeWork's new CEO said he's leading a c...
Tags: Trends, WeWork, Signal, Neumann, Adam Neumann, Sandeep Mathrani, Miguel McKelvey, Business Insider WeWork, Summer Camp WeWork


Inside the 3-floor New York City penthouse ex-WeWork CEO Adam Neumann is selling for $37.5 million

Since he was ousted from WeWork six months ago, former CEO Adam Neumann has kept a low profile, mostly staying hidden from the public eye. Now, Neumann is putting a massive chunk of his property in New York City for sale. The units for sale — a three-floor penthouse suite and a second duplex apartment — are listed together for $37.5 million. Neumann faced scrutiny after WeWork's IPO filing brought into question the CEO's leadership, business model, and conflicts of interests. The IPO has since...
Tags: New York, New York City, San Francisco, Trends, Bloomberg, Manhattan, WeWork, Business Insider, Trump, Neumann, Greenwich Village, Adam Neumann, Mike Bloomberg, Gramercy Park, Irving Place, Miguel McKelvey


'We were kings of the world': WeWork's Adam Neumann fostered a culture of superiority at the troubled coworking startup

WeWork's cofounder and ex-CEO Adam Neumann instilled a culture of superiority at the coworking startup, according to the Financial Times. "Adam was the sun and we all revolved around him," a WeWork employee told the newspaper. "We were kings of the world." "He wanted everyone to know he was God," a SoftBank executive told the Financial Times. SoftBank CEO Masayoshi Son goaded Neumann into expanding WeWork faster by comparing it to other businesses. Visit Business Insider's homepage for more st...
Tags: Facebook, Softbank, US, Trends, Netflix, Sprint, WeWork, Son, Donald Trump, Financial Times, Neumann, Adam, Adam Neumann, Masayoshi Son, Oyo, Masa


WeWork's $60 million private jet is now on the market — see inside the ultra-luxurious Gulfstream G650ER

WeWork's Gulfstream G650ER has been placed on the market for an unspecified price. The 16-seat ultra-luxurious aircraft was extensively used by Neumann, according to employees, and was a divisive symbol during the peak of WeWork's internal struggle between employees and management. The jet was highly customized by WeWork for Neumann and included a conference table and private bedrooms, according to its listing on AvBuyer.   Visit Business Insider's homepage for more stories. A Gulfstream G650...
Tags: Apple, New York, Fcc, Singapore, Trends, Beijing, WeWork, Federal Aviation Administration, Business Insider, Neumann, Tucson, Miami Florida, Gulfstream, Las Vegas Nevada, Adam Neumann, XM


The rise and fall of RompHim, the men's romper startup that's shutting down after going viral and raising over $350,000 on Kickstarter

Men's romper startup RompHim announced on February 12 to customers that it's shutting down. The company launched in 2017 and immediately went viral, raising more than $350,000 on Kickstarter within a week of launching.  RompHim offered two products: a short romper and a longer jumpsuit called the RompSuit.  The company said its founders no longer have the time to devote to RompHim, which began as a side project in business school.  Visit Business Insider's homepage for more stories. RompHim...
Tags: Trends, Chicago, Kickstarter, Ted Sarandos, Sheryl Sandberg, Northwestern University, Neumann, BuzzFeed News, Tim Mulkerin, Daniel Webster Clark, Kellogg School of Management They, Daniel Webster Clark Alex Neumann Chip Longenecker, Elaine Chen, RompHim RompHim, RompHim BuzzFeed News RompHim, Kickstarter RompHim RompHim


Today's the first day on the job for new WeWork CEO Sandeep Mathrani. Insiders told us why he's the guy to pull off one of the most difficult turnarounds Silicon Valley has ever seen.

Sandeep Mathrani, WeWork's new CEO, starts on Tuesday. To understand how he will likely lead the struggling coworking giant, we talked with six executives at his former company GGP. Mathrani started at the mall company GGP after his predecessors laid the foundation for a major turnaround, and he continued the plan with his operating expertise. WeWork wasn't his first stop after working at GGP's parent company — instead, he was set to be a consultant for the private-equity giant Starwood Capita...
Tags: India, Softbank, US, Trends, Chicago, Kanye West, Washington Dc, Sheldon Adelson, Starwood, Brookfield, Silicon Valley, Bill Ackman, WeWork, Nolan, Metz, Signal


WeWork is bringing in a new CEO as it tries to right the ship — here's everything that's going on inside the coworking giant

WeWork pulled its IPO in 2019 after mulling a massive valuation cut to drum up investor interest, and cofounder Adam Neumann was ousted as CEO and chairman. WeWork has been slashing jobs and selling or shuttering businesses.  WeWork has announced real-estate veteran Sandeep Mathrani as its new CEO, replacing Artie Minson and Sebastian Gunningham, who served as co-CEOs since Neumann was ousted. It's also seen a big board shakeup.  Marcelo Claure will stay on as chairman, according to The Wall S...
Tags: Google, New York, Mexico, Stanford, Wall Street, Softbank, Israel, US, America, San Francisco, Trends, Kanye West, Brooklyn, Aol, Italy, Brookfield


T. Rowe Price calls WeWork a 'terrible investment' (TROW)

In an unusually frank letter, fund managers at T. Rowe Price derided WeWork as a "terrible investment." T. Rowe Price led WeWork's Series D financing round in 2014, which valued the company at $4.65 billion. The fund managers said they invested with the understanding that WeWork would curb its losses and growth, but that didn't happen. WeWork failed to go public last year and nearly went bankrupt instead, sending its valuation plummeting in the process. Visit Business Insider's homepage for mo...
Tags: Softbank, US, Trends, Silicon Valley, WeWork, Neumann, Adam Neumann, Wakeman, Rowe, T Rowe Price, Berghuis, Adam Neumann Neumann, Brian W H Berghuis, John F Wakeman, PitchBook Berghuis Wakeman


From Elon Musk to Tim Cook, here's where the world's most influential tech founders and CEOs went to college — and what they studied

College is where many figure out what they're actually interested in and determine the career they want to pursue. We researched the degrees and schools attended by well-known tech CEOs, many of whom launched their companies or landed on the idea for their first startup while studying at college. Here's where 52 CEOs and founders in the tech industry went to school, and what they studied. Visit Business Insider's homepage for more stories. For new college students, choosing a major can feel l...
Tags: Apple, Google, Facebook, Mark Zuckerberg, Europe, Elon Musk, Cook, Sweden, Maryland, Microsoft, Yahoo, Mba, Stanford, India, Satya Nadella, Trends


WeWork's new CEO Sandeep Mathrani has to pull off one of the most difficult turnarounds Silicon Valley has ever seen. Insiders explain what he's like, and why he's the guy to do it.

Sandeep Mathrani, WeWork's incoming CEO, starts on February 18. To understand how he will likely lead the struggling coworking giant, we talked with six executives at his former company GGP. Mathrani started at the mall company GGP after his predecessors laid the foundation for a major turnaround, and he continued the plan with his operating expertise. WeWork wasn't his first stop after working at GGP's parent company — instead, he was set to be a consultant for the private-equity giant Starwo...
Tags: India, Softbank, US, Trends, Chicago, Kanye West, Washington Dc, Sheldon Adelson, Starwood, Brookfield, Silicon Valley, Bill Ackman, WeWork, Nolan, Metz, Signal


The man who was hired by Travis Kalanick and Adam Neumann to help Uber and WeWork through major PR crises just got a new job

Public relations powerhouse Jimmy Asci is back at CEO advisory firm Teneo after stepping away to help lead WeWork through its initial public offering and subsequent PR fiasco. Asci also represented Travis Kalanick when the former Uber CEO was ousted from that role in 2017 and has counseled several CEOs of Fortune 500 companies at Teneo. Asci returned to Teneo in early February as senior managing director after a six-month hiatus. Visit Business Insider's homepage for more stories. Jimmy Asci,...
Tags: Uber, Trends, Travis Kalanick, WeWork, Ken Burns, Neumann, Adam Neumann, ASCI, Teneo, Jimmy Asci, Teneo Asci, WeWork Asci, IPO Asci, WeWork Teneo, Neumann Asci, SVP Asci


EquityBee's 36-year-old CEO saw friends and colleagues lose access to their stock options. He launched a startup to help them and used this pitch deck to raise $6.6 million.

EquityBee CEO and cofounder Oren Barzilai has seen many startup employees, including some of his friends, walk away from valuable stock options because they didn't have the funds to exercise them That led him to launch EquityBee which offers startup employees a way to get in touch with investors who may be willing to offer financing for their vested options. Equity Bee said Tuesday that it just raised $6.6 million from investors including Battery Ventures and that it was expanding to the US. T...
Tags: US, Trends, Startup, WeWork, Battery Ventures, Neumann, Oren Barzilai, DataRobot, Gura, Barzilai, Adam Neuman, EquityBee, Ron Gura, Equity Bee, Oded Golan, Mody Radashkovich


WeWork's new CEO is tasked with seeing through a massive turnaround — 6 of Sandeep Mathrani's former colleagues told us what to expect once the hands-on real estate exec takes the reins

Sandeep Mathrani, WeWork's incoming CEO, starts on February 18. To understand how he will likely lead the struggling coworking giant, we talked with six executives at his former company, GGP. Mathrani started at mall company GGP after his predecessors laid the foundation for a major turnaround, and he continued the plan with his operating expertise. WeWork wasn't his first stop after working at GGP's parent company – instead, he was set to be a consultant for private-equity giant Starwood Capi...
Tags: India, Softbank, US, Trends, Chicago, Kanye West, United States, Washington Dc, Sheldon Adelson, Starwood, Brookfield, Bill Ackman, WeWork, Nolan, Metz, Signal


Meet Rebekah Neumann: Insiders describe the spiritual, strategic mastermind who was the driving force behind WeWork and her husband, Adam Neumann

Rebekah and Adam Neumann cofounded WeWork. After the startup's downfall last summer, and Adam's departure as CEO, the pair moved to Israel to escape media scrutiny. Rebekah Neumann has been described as a powerful influence on both WeWork and her husband.   Despite genuinely wanting to do good for mankind, Rebekah lavished in the billionaire lifestyle, even flying her hairdresser to WeWork's London Summer Camp one year. Rebekah's parents gifted her $1 million when she married Adam to buy a hom...
Tags: New York Post, Elon Musk, New York, Hollywood, London, Tibet, Steve Jobs, Ipo, Israel, Tel Aviv, San Francisco, Trends, Rebecca, South Africa, Mtv, Chelsea


Meet Rebekah Neumann: Insiders describe the spiritual, strategic mastermind who is the driving force behind WeWork and her husband, Adam Neumann

Rebekah and Adam Neumann cofounded WeWork. After the startup's downfall last summer, and Adam's departure as CEO, the pair moved to Israel to escape media scrutiny. Rebekah Neumann has been described as a powerful influence on both WeWork and her husband.   Despite genuinely wanting to do good for mankind, Rebekah lavished in the billionaire lifestyle, even flying her hairdresser to WeWork's London Summer Camp one year. Rebekah's parents gifted her $1 million when she married Adam to buy a hom...
Tags: New York Post, New York, Hollywood, London, Tibet, Steve Jobs, Ipo, Israel, Tel Aviv, San Francisco, Trends, Rebecca, South Africa, Mtv, Chelsea, Michelin


WeWork is bringing on its first female board member after losing 3 veteran directors. Here's who is still leading the office-sharing company.

Upon losing three veteran directors since its board revamp in September, WeWork is bringing in SoftBank's Kirthiga Reddy as the company's first female board member.  Since the WeWork fiasco, the coworking company has been undergoing several structural changes.  The company laid off 2,400 employees, made three CEO switches, and went from a $47 billion valuation to talk of bankruptcy in just six weeks, Business Insider reported. Here's a look at the careers of the WeWork board members consisting...
Tags: Facebook, Ebay, Ipo, India, Softbank, US, Trends, Sprint, Goldman Sachs, WeWork, SoftBank Capital, Neumann, Frankfort, Raine Group, Lenovo Group, Adam Neumann


This is everything we know about WeWork's new CEO Sandeep Mathrani, a former real estate executive who has been called a 'corporate turnaround artist'

WeWork announced on Saturday that Sandeep Mathrani would be its new CEO. Adam Neumann, WeWork's cofounder, was reportedly ousted from the chief executive role in 2019 after SoftBank took control of the company, and Artie Minson and Sebastian Gunningham have served as co-CEOs since. Mathrani was previously an executive at Brookfield properties, and has a history of turning around businesses dealing with debt. Some are speculating that hiring an experienced real estate executive hints that WeWor...
Tags: New York, India, Softbank, Trends, Bloomberg, Washington Dc, Brookfield, Philadelphia, WeWork, Brooklyn Nets, Wall Street Journal, Eton, Neumann, Nicholas Cage, Hoboken New Jersey, Claure


WeWork Names Veteran Real Estate Executive as New Chief

Sandeep Mathrani will take over the operator of shared office space, which was on the brink of financial collapse last year.
Tags: News, Co-working, Neumann, Adam, Sandeep Mathrani, Appointments and Executive Changes, SOFTBANK Corporation, Renting and Leasing (Real Estate, Real Estate (Commercial, Brookfield Office Properties, WeWork Companies Inc, WeWork Names Veteran Real Estate Executive


Report: WeWork has a new CEO and he’s a real estate — not a tech — exec

If WeWork wanted to cement the impression that it no longer strives to be viewed as a tech company but rather as a real estate giant focused on leasing space to millennials and enterprise customers, it would probably choose a veteran from the real estate world. That’s just what it has done, too, according to a new story from the WSJ that say the company, which was famously forced to pull its initial public offering last fall, has settled on Sandeep Mathrani as its new top banana. Mathrani, ha...
Tags: Startups, TC, New York, California, Softbank, Chicago, Sprint, Brookfield, Miami, WeWork, WSJ, Bolivia, John Legere, Neumann, T Mobile, Legere


WeWork Names New Chief

Sandeep Mathrani, a senior real estate executive, will take over the operator of shared office space, which was on the brink of financial collapse last year.
Tags: News, Co-working, Neumann, Adam, Sandeep Mathrani, Appointments and Executive Changes, SOFTBANK Corporation, Renting and Leasing (Real Estate, Real Estate (Commercial, Brookfield Office Properties, WeWork Companies Inc


WeWork to Name New Chief

Sandeep Mathrani, a senior executive at Brookfield Properties, is to take over a company that was on the brink of financial collapse last year.
Tags: News, Co-working, Neumann, Adam, Sandeep Mathrani, Appointments and Executive Changes, SOFTBANK Corporation, Renting and Leasing (Real Estate, Real Estate (Commercial, Brookfield Properties, Brookfield Office Properties, WeWork Companies Inc


SoftBank-backed startups are bleeding, as investors tighten up scrutiny over loss-making business models. Here's a running list of all the Japanese giant's major investments in tech.

SoftBank has invested hundred of millions of dollars in technology-forward companies since 2008. The company's portfolio includes acquisitions of big names like Boston Dynamics and ARM. Its most recent reported acquisition is WeWork, the embattled coworking startup. In the wake of the WeWork debacle, several other SoftBank startups have also begun to bleed under closer scrutiny of their profit-losing business models. Oyo, Rappi, Getaround and Zume laid off a combined total of 2,600 employees i...
Tags: Uber, Asia, South Korea, Japan, UK, Indonesia, China, Ipo, India, Softbank, Digital, US, Trends, Sprint, Alibaba, WeWork


Ex-WeWork CEO Adam Neumann just tapped an Israel-based publicist for personal PR work

Former WeWork CEO Adam Neumann has hired Asher Gold, a Jerusalem-based publicist, for public relations work. Neumann continues to work with Edelman, the Chicago-based PR firm.  For more stories about WeWork, click here. Adam Neumann is expanding his public relations staff in Israel, where the embattled WeWork founder has spent significant time in recent months. Asher Gold, the Jerusalem-based founder of Gold PR, is now representing Neumann, Business Insider understands. Neumann is continuing ...
Tags: Europe, Ipo, Israel, Elizabeth Warren, Jerusalem, Trends, Bloomberg, Chicago, Barneys New York, WeWork, Edelman, Signal, Business Insider, Neumann, Tom Cotton, Adam


Billionaire Seth Klarman blames low rates and 'capitalist excess' for his fund's languishing returns — and says we've seen only the 'tip of the overvaluation iceberg'

Billionaire Seth Klarman's annual letter to investors was wide-ranging, touching on topics including private equity's pile of unused money, modern monetary theory, WeWork, and foreign policy in the Middle East. The 17-page letter seen by Business Insider showed that the $30 billion fund returned less than 10% in a year when the stock market surged by 30%. Klarman blamed value stocks' continued slump and a "few mistakes" that he didn't identify.  Klarman is not questioning his belief in value i...
Tags: Washington, White House, Boston, Elizabeth Warren, Trends, Netflix, Middle East, Denmark, Cbs, Greenland, WeWork, Donald Trump, Bernie Sanders, Trump, Neumann, Adam Neumann


Goldman Sachs’s CEO just called WeWork’s pulled IPO — which Goldman was underwriting — proof that the market works

It’s hard to put a positive spin on terrible situation, but that didn’t stop Goldman Sachs CEO David Solomon earlier today. Asked during a session at the World Economic Forum in Davos about WeWork’s yanked IPO in September,  Solomon suggested it was proof that the listing process works, despite that the CFO of Goldman — one of the offering’s underwriters — disclosed last fall that the pulled deal cost the bank a whopping $80 million. Reuters was on the scene, reporting that Solomon acknowledg...
Tags: Google, TC, Uber, Ipo, Softbank, Tech, Davos, New York Times, Silicon Valley, Goldman Sachs, Grimes, WeWork, Morgan Stanley, Goldman, Reuters, World Economic Forum


Read 58 pages of letters revealing how WeWork convinced securities regulators to let it use an accounting measure that painted a rosy picture

Business Insider obtained 58 pages of correspondence between the SEC and WeWork about the coworking company's IPO filing and questions or concerns the agency had about the document. One crucial piece of the back-and-forth centered on the company's use of a non-GAAP financial metric. The SEC originally asked WeWork to "remove disclosure of this measure throughout your registration statement." After pushback from WeWork's lawyers, including a former chief of the same SEC division asking the comp...
Tags: Supreme Court, Trends, Commission, SEC, WeWork, Wall Street Journal, Securities And Exchange Commission, Business Insider, Company, The Company, Neumann, EBITDA, GAAP, Adam Neumann, Asc, John White