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WeWork Board Accepts $10 Billion Takeover Plan From SoftBank

22 days ago   |   By The Huffington Post

The the deal will reportedly rescue WeWork, and current chair Adam Neumann will exit with $1.7 billion.
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SoftBank is reportedly paying WeWork founder Adam Neumann $1.7 billion to step off the board

SoftBank is reportedly paying WeWork founder Adam Neumann $1.7 billion to step off the board

22 days ago   |   By Business Insider

SoftBank is about to take control of WeWork, as the office-sharing firm battles to stay afloat, according to a Wall Street Journal report .
WeWork founder and former CEO Adam Neumann is set to receive almost $1.7 billion from the Japanese investor as part of the deal, which will see him step off the board, the Journal reported. Neumann will reportedly sell about $1 billion in shares to SoftBank, plus receive an additional loan and consulting fee.
Business Insider earlier reported that Neumann will also give up his voting shares as part of the bailout.
WeWork had also been subject to a...
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WSJ: SoftBank, WeWork's largest investor, takes control of the embattled office company, with co-founder Adam Neumann stepping down

WSJ: SoftBank, WeWork's largest investor, takes control of the embattled office company, with co-founder Adam Neumann stepping down

22 days ago   |   By Business Insider

WeWork's largest investor, SoftBank, will take control of WeWork, the Wall Street Journal reported Tuesday.
WeWork's board of directors had two bailout options from SoftBank and JPMorgan. SoftBank's deal reportedly won out.
The Japanese investor will provide WeWork co-founder Adam Neumann with almost $1.7 billion. He'll step down from the board, where he's currently the chairman, and will receive a $185 million consulting fee as well as a $500 million credit line, per the Wall Street Journal.
The embattled office company, whose valuation was as high as $47 billion just a few months ago...
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WeWork's Adam Neumann will reportedly get a $1.7 billion deal to step down from board

WeWork's Adam Neumann will reportedly get a $1.7 billion deal to step down from board

22 days ago   |   By CNBC

WeWork's Adam Neumann will reportedly get $1.7 billion in stock, cash and credit to leave the board and give up his voting rights in a deal with SoftBank that's expected as early as Tuesday.
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High-tech fitness company Peloton will reportedly release a cheaper...

High-tech fitness company Peloton will reportedly release a cheaper treadmill and a rowing machine in 2020

Peloton is working on releasing a series of new products for 2020: a new treadmill, a rowing machine, and apps for both Amazon Fire TV and Apple Watch, according to Bloomberg... Read more ...

Google Pay will offer checking accounts in 2020

Google Pay will offer checking accounts in 2020

Google will offer personal checking accounts next year through its Google Pay app in partnership with Citigroup and a Stanford University credit union. Read more ...

Disney Plus has 10 million sign-ups a day after launching

Disney Plus has 10 million sign-ups a day after launching

Disney announced on Wednesday that Disney Plus had 10 million sign-ups since launching on Tuesday. Disney Plus had 1.9 million preorders in the US by Sunday, a few days before... Read more ...

Apple is admitting to 2 mistakes with its keyboards - and fixing them - with...

Apple is admitting to 2 mistakes with its keyboards - and fixing them - with the new 16-inch MacBook Pro

Apple released a new 16-inch MacBook Pro that will replace the 15-inch MacBook Pro as Apple's large laptop option. The new 16-inch MacBook Pro ditches Apple's controversial... Read more ...

Bill Taylor and George Kent gave devastating testimony in the first Trump...

Bill Taylor and George Kent gave devastating testimony in the first Trump impeachment hearing. Here are the biggest takeaways

Two career foreign service officers laid out a devastating portrait on Wednesday of President Donald Trump's efforts to strong-arm an ally into delivering political dirt on a... Read more ...

An unprecedented study suggests the Apple Watch can help detect heart...

An unprecedented study suggests the Apple Watch can help detect heart problems. But very few people actually used it to do that

At the beginning of the year, Apple CEO Tim Cook said his company's "greatest contribution to mankind" would be in health. So, can the Apple Watch help spot heart problems? A... Read more ...

21 gifts for the dad who loves to travel

21 gifts for the dad who loves to travel

If your dad loves to travel , gift something he can use on all his trips no matter where he's headed. From RFID-blocking wallets and bags to Disney+ streaming subscriptions... Read more ...

Apple's head of marketing slammed Chromebooks, calling them 'cheap testing...

Apple's head of marketing slammed Chromebooks, calling them 'cheap testing tools' and saying kids who use them in school won't succeed

In an interview with CNET , Apple marketing chief Phil Schiller said Chromebook laptops were only good for taking tests. Schiller's comments ignored the notoriously high price... Read more ...

Meet 'Narwhal the Little Magical Furry Unicorn,' a rescue puppy that was...

Meet 'Narwhal the Little Magical Furry Unicorn,' a rescue puppy that was born with an extra tail on his face

Narwhal is very special puppy - he was born with an extra tail on his face. He was rescued by Mac's Mission , a Missouri-based rescue organization. Narwhal was found abandoned... Read more ...

People are comparing Ambassador Bill Taylor's voice to Walter Cronkite's as...

People are comparing Ambassador Bill Taylor's voice to Walter Cronkite's as he testifies in the Trump impeachment hearing

The top US diplomat in Ukraine, Bill Taylor, testified alongside Deputy Assistant Secretary of State George Kent, as part of the impeachment inquiry into President Donald Trump... Read more ...