- WeWork released an embarrassing statement recently about the NYSE threatening to delist its stock.
- Beyond Softbank, several VCs still had large stakes including Benchmark and Insight Partners.
- If there are lessons to be learned from WeWork, there’s no indication that VCs have learned them.
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Last week, WeWork was forced to issue an embarrassing press release warning that it was in danger of being delisted from the NYSE because the stock has traded below $1 for so long.
In 2019, prior to a disastrous attempt to go public that resulted in the exodus of its flamboyant, controversial founder, Adam Neumann, WeWork was valued at $47 billion. As of Monday, with shares trading at $0.47 and a market cap of $345.7 million, the company has lost some $46.7 billion in value over four years — vanishing like a sand sculpture left in the wind.
In 2021, the company briefly looked like its fortunes could tur
