Business · 2
Which co-working startup's 2019 IPO collapsed after investors learned its founder had personally profited hundreds of millions while the company posted massive annual losses?
Answer
WeWork
WeWork's planned 2019 IPO fell apart after public scrutiny revealed founder Adam Neumann had collected roughly $700 million personally while the company was losing billions annually, prompting investors to question its governance and valuation.
💡 Did you know?
WeWork's IPO collapsed when the public saw founder Adam Neumann collected $700 million in personal profits while the company lost billions annually.
Other options people guess
- Uber
- Lyft
- Peloton
Topics
- startup-failures
- ipo
- wework
- corporate-governance
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