New York/Bengaluru | SoftBank offered close to $US10 billion ($14.6 billion) to WeWork owner The We Company, its employees and its investors on Tuesday (AEDT) under a plan to keep the struggling US office-space sharing start-up afloat that would lead to the exit of its co-founder and Chairman Adam Neumann, people familiar with the matter said.
WeWork could run out of cash as early as next month without new financing, sources have said, after the company pulled plans in September for an initial public offering (IPO). It abandoned the IPO when investors questioned its large losses, the sustainability of its business model and the way WeWork was being run by Neumann, who gave up his CEO title last month and now serves as board chairman.
