WeWork was Adam Neumann’s first unicorn. It soared, became a media and investor darling, and attracted a lot of VCs and investors from Benchmark to Goldman Sachs and Softbank. Neumann was able to raise billions of venture capital from the blue bloods of global finance – and mainly because of momentum he was able to generate and seemed to be on his way to a mega-IPO to make everyone rich. He did have his IPO but at a valuation of ~$9 billion compared with the valuation in the final VC round of ~$47 billion. And now WeWork’s valuation is $44.5 million.
During its meteoric rise, WeWork succeeded