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WeCash-out, before IPO

By Mark / July 19, 2019

The WSJ today reported on how WeWork co-founder and CEO Andrew Neumann has extracted $700,000,000 in share sales and loans from his money-losing, pre-IPO unicorn.

So far Neumann has purchased 4 homes around New York, funded an elementary school his kid goes to, and paid $14,000,000 for a 13,000 squarre foot crib in the Bay area that has a guitar-shaped romper room. He also buys properties and leases them back to WeWork.

All very confidence instilling for potential investors, who deserve to be creamed with this pig flies public. Personally I’m shorting the hell out of it the minute it hits the street. (via Z/H)

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Mark

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