WeWork

The corporate world's rush to "de-brand"

Illustration: Sarah Grillo/Axios

This week brought news from WeWork, the co-working unicorn, that it has decided to downgrade its main business to a mere subsidiary. WeWork has a famously complex corporate structure, but lift your eyes above the newly demoted WeWork to the very apex and behold — The We. (I am not making this up.)

The big picture: WeWork is not the only company to demote its flagship brand and name the holding company something silly, or worse.

SoftBank agrees to $2 billion WeWork investment

WeWork building
Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

SoftBank has agreed to invest another $2 billion into WeWork, per multiple sources and reports. Expect a large percentage of it to be secondary capital — i.e., buying out existing shareholders.

The state of play: There's lots of buzz about how this deal is much smaller than what was originally contemplated, including one 2018 report whereby SoftBank could acquire a majority stake in the co-working space giant.

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