Will Yardi’s multi-million gamble on WeWork the former £37Bn Unicorn pay off?
The word is that Adam Neumann the enfante terrible and former co-founder is unlikely to be the new owner of WeWork as it emerges out of the gloom of its present bankrupt state. Yardi now looks well positioned to become a majority shareholder of the company with a new 60% stake, shored up by an injection of £269m together with capital injected by other parties.
If this restructuring is waived through in late May Softbank would look to hold over 15% of the equity of the phoenix company. But the bigger question I feel is – in a different time and place WeWork was a £37Bn Unicorn, at a time that many companies had hyper-inflated ticket prices.
In some ways Yardi is in so deep that following through with this deal is better than any alternative plan, but there is still a huge mess with regard to landlord liabilities and perhaps more crucially has the world spun on, and is work itself still morphing into a more liquid asset type?
Everyone has to work, but is the WeWork model going to in the next decade be the de facto operating model? I have my doubts, but by June 2024, many stakeholders are going to be pulling out all the stops to ensure it just might be.
CREtech London 2024 is just seven days away – have you got your tickets?
CREtech London May 8-9 2024 – In just one week all of the global players in the built environment will be under one roof for two days, if you have not yet secured your tickets there is still time – just.
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Catch up with all your friends, and make new ones, networking has never been so easy and of course the chance to find out what exactly is happening in the industry, spread over two days with a number of curated talks and seminars and fireside chats. Not to mention the exhibitors displaying the latest technology which powers the commercial real estate sector. And of course Michael Beckermann will as ever be in the mix.
Andrew Stanton’s PROPTECH-X ‘Proptech & Property News’ in association with Estate Agent Networking & News Now publications. #proptech #property #realestate #digitaltransformation #startups
Andrew Stanton Founder & Editor of 'PROPTECH-X' where his insights, connections, analysis and commentary on proptech and real estate are based on writing 1.3M words annually. Plus meeting 1,000 Proptech founders, critiquing 400 decks and having had 130 clients as CEO of 'PROPTECH-PR', a consultancy for Proptech founders seeking growth and exit strategies. He also acts as an advisory for major global real estate companies on sales, acquisitions, market positioning & operations. With 100K followers & readers, he is the 'Proptech Realestate Influencer.'
