Adam Neumann Abandons WeWork Comeback
Former WeWork CEO Adam Neumann has abandoned his attempt to buy the bankrupt shared office space company, criticizing its recovery plan as unrealistic. Neumann, now leading a new property firm called Flow, had offered $500 million to acquire WeWork but faced resistance. WeWork, which filed for bankruptcy last November, aims to reduce its rent burden through its recovery plan. Neumann was ousted from WeWork in 2019 after its failed IPO and has since received backing for his new venture from Andreessen Horowitz.