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“When you know, you know” – WeWork to SPAC dealINTL

“When you know, you know” – WeWork to SPAC deal

Big news coming from everyone’s favorite soap opera in the tech universe — we are talking about WeWork, of course. The office-sharing startup is reportedly seeking a SPAC deal investment amid reports that it recorded a $3.2b loss last year (still an improvement from its $3.5b loss the year before).

WeWork shared the news during a presentation to potential investors, and pitched that it would undergo the potential listing by merging with blank check firm BowX Acquisition Corp.

As you may recall, WeWork was meant to go public back in 2019 but plans crumbled over intense scrutiny of founder Adam Neumann and his management style. SoftBank then bailed the company out, but that too ended in a legal dispute that just recently got resolved.

why it matters
Now that SoftBank and Neumann reached a lawsuit settlement, WeWork can finally have a go at a second IPO attempt. Props to the folks at WeWork if they manage to pull off the targeted $9b valuation after all the drama.