I suppose it is obligatory to write an obituary for We Work given that we wrote about the company and its Initial Public Offering several times already.
On the final turn around the track to price and issue its Initial Public Offering stock to the public, the company “postponed” its IPO.
At the same time, they pulled the plug on their founder CEO, Adam Neumann for “high crimes and misdemeanors.” Wait, sorry. Got confused for a second.
Neumann “stepped down” and the lead investor, SoftBank through its Vision Fund, took action to right the sinking ship.