Lots of journalists have now poured over the S-1 of WeWork.
In the meantime investors have continued to push down the valuation of the upcoming IPO.
Reuters latest suggests just $10bn down from $47bn (when Softbank invested).
Of the gems discovered in the S-1 (h/t FT, FTAlphaville), such as the fact that related party transactions are rife, the founder’s shares carry 20x the votes and his wife would have been involved in the succession planning, one particularly stood out:
FT pointed out that the company paid $5.9m in stock to founder Adam Neumann in return for using the “we” trademark!
(This has since been returned according to the updated filing today).
