Feb 6, 2024 - Business

Adam Neumann wants WeWork back

Dan Primack

Photo illustration of a hundred-dollar bill with Adam Neumann in place of Ben Franklin. — Photo illustration: Brendan Lynch/Axios. Photo: Angus Mordant/Bloomberg via Getty Images

Adam Neumann wants to buy back WeWork, the bankrupt coworking company he founded and led before his 2019 ouster.

Why it matters: This would be a mind-blowing boomerang, particularly given how many people still blame Neumann for the company's troubles.

It also might be WeWork's last, best hope of maintaining anything close to its current footprint.

Details: Neumann and his new company, Flow, have unsuccessfully sought to engage with WeWork since December, according to a letter first obtained by the NY Times.

Flow launched in 2022 with $350 million from Andreessen Horowitz, and said in its letter that Dan Loeb's Third Point would help finance a WeWork transaction.
The letter adds that Neumann had worked to arrange up to $1 billion in financing for WeWork in the weeks before its Nov. 2023 bankruptcy filing, but that the company's then-CEO canceled their meeting without explanation.

The bottom line: Some folks never get over their first true love.

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Adam Neumann wants WeWork back

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