Did a Jewish holiday kill the WeWork IPO? WeWork’s parent company, the We Company, has postponed its IPO -- which was expected next week -- until October or later. There are a number of reasons for the delay: After losing $1.37B in the first half of the year and coming under fire forshady corporate governance, the company has struggled to convince investors it’s really worth its $47B private valuation. But the most immediate reason for WeWork’s postponement is also perhaps the most interesting: Rosh Hashanah. Wait, what? That’s right -- an inconveniently timed holiday can kill an IPO. As of last weekend, WeWork was set to begin its roadshow on Monday of this week. But minor internal disagreements prevented the company from starting its roadshow on Monday -- and by Tuesday it was too late. Why? Because if WeWork starts its roadshow now, it will conflict with Rosh Hashanah (which begins Sept. 29), and, asAxios’ Dan Primacknotes, “It's generally considered disrespectful to roadshow during the Jewish high holidays.” Then, a week after Rosh Hashanah, it’s Yom Kippur -- another IPO no-go. You see, a good IPO is all about the roadshow... And a good roadshow is all about timing. In WeWork’s case, the company chose to postpone its IPO rather than risk a botched roadshow. Why is the roadshow so important? Because it’s a company’s biggest chance to advertise itself to investors before hitting the big leagues. Roadshows are intense -- and often several weeks long, hence the Rosh Hashanah conflict. And they’reextraimportant for embattled businesses like WeWork that still have something to prove to investors. WeWork’s wacky IPO may be a warning WeWork, which was once valued at $47B, has slipped to anestimatedvaluation of between $10B and $12B. Earlier this year, the company secured a $6B credit line from big banks to keep the lights on. But a condition of that credit required WeWork to go public this year -- and raise at least $3B in the process. Based on the company’s most recent valuations, though, it wouldn’t have raised the necessary $3B -- which could send WeWork spiraling even further downward. So next time you take your multibillion-dollar company public, make sure to get your ducks in a row -- and check your calendar for Jewish holidays.
Imagine being so desperate to shore up support for your quick exit ponzi scheme you and your backers (SoftBank) pay some garbage rag shills (Gizmodo) to blame Jewish holidays for your idea failing, and not the fact you are an incompetent culty idiot. This is particularly rich. WeWork is worth less than 50% of it's current valuation and it's already planning on slashing it's IPO price considerably. They are losing support by the day and are quickly becoming the laughing stock of the IPO circle. I'd bet they finally IPO significantly under 1 billion. Their model is bad.
The author is certainly right: Adam Neumann, an Israeli, would have no clue that Rosh Hashanah and Yom Kippur is coming.
%% LOL And another clue in solving puzzles or trend study; 46 or 47 billion chopped to 10 billion. That could be some Jews or Christians/ common sense people know basic math LOL. Happy holidays.,
I've gotta ask: what's with the '%%' at the beginning of your posts? Reminds me of the old UNIX 'fortune' files (used to generate those 'fortune cookies' at login.) Code: [0.02|0.02|0.00] bws@LG:~$ fortune Q: Why don't lawyers go to the beach? A: The cats keep trying to bury them. [0.02|0.02|0.00] bws@LG:~$ fortune There is no hunting like the hunting of man, and those who have hunted armed men long enough and liked it, never care for anything else thereafter. -- Ernest Hemingway [0.02|0.02|0.00] bws@LG:~$ fortune You will be the last person to buy a Chrysler.
%% I want more than %, pattern.........................................................................{ Edit ;i have taken Fortune + Forbes+ Investors Business Daily/Weekly more than cookies.LOL