WeWork हुई Bankrupt| 47 बिलियन डॉलर से दिवालिया| क्यों फेल हुई कंपनी? WeWork Bankruptcy| GoodReturns
आपने WeWork का नाम तो सुना ही होगा. जो Co-Working Space प्रोवाइड कराती है. अब यही कंपनी Bankruptcy यानि दिवालिया फाइल करने का प्लान कर रही है. ऐसा अगले सप्ताह की शुरुआत में हो सकता है. Softbank के निवेश वाली कोवर्किंग कंपनी वीवर्क बड़े पैमाने पर कर्ज और भारी घाटे से जूझ रही है. क्यों फेल हो गया कंपनी का बिजनेस मॉडल, चलिए जानते हैं.
#wework #weworkbankrupt #coworkingspace
~PR.147~ED.148~GR.124~HT.96~
#wework #weworkbankrupt #coworkingspace
~PR.147~ED.148~GR.124~HT.96~
Transcript
00:00 You must have heard of WeWork, which provides co-working space.
00:05 Now this company is planning to file bankruptcy, i.e. Diwali.
00:09 This can happen at the beginning of the next week.
00:11 SoftBank's investment co-working company WeWork is struggling with a large-scale debt and heavy losses.
00:17 Let's know some more details.
00:19 WeWork Global is a New York-based company and is also active in India.
00:23 The 13-year-old company, which provided co-working space, showed a net loss of Rs. 3.2 billion on revenue of Rs. 72 billion for the second quarter of August.
00:36 While the company's revenue was increasing by 4% year on year.
00:40 WeWork said in August that the company's continued existence is doubtful.
00:45 The company's CEO David Rowley said that this is the reason why Diwali has been listed as a possible option.
00:52 The company's shares have fallen by 96% this year.
00:55 Wall Street Journal reports that WeWork is considering filing a Chapter 11 petition in New Jersey.
01:02 Before this, WeWork said that it had made a compromise with its creditors to temporarily postpone its loan payments.
01:12 Its grace period is about to end.
01:15 By the end of June, the company had a net long-term debt of $ 2.9 billion.
01:20 The long-term lease was more than $ 13 billion.
01:23 In 2019, WeWork's valuation was $ 47 billion.
01:29 If WeWork postpones Diwali, it will be a big shock for its investor SoftBank.
01:34 This will make SoftBank's heavy money sink.
01:37 In fact, the giant Japanese investor SoftBank has invested billions of rupees to increase its startup.
01:43 But WeWork is constantly struggling with losses.
01:46 In 2019, the company announced its plan to go public.
01:50 And since then, it has been struggling.
01:53 Renting out a company for the short term by taking up space on the long-term lease was the company's business model.
01:58 And because of this, investors had less faith in WeWork.
02:02 The worry of heavy losses on it has made the work worse.
02:05 At a very low valuation, the company went public in 2021.
02:09 The company has had to face many challenges in recent years.
02:13 The biggest problem is the constant decline in the demand for co-working space.
02:17 According to the report, WeWork's troubles increased during the coronavirus pandemic.
02:22 When companies left their offices and employees started working from home.
02:27 Some companies have opened offices, but the demand for co-working space has not been the same as before.
02:34 This year, the company's CEO, Sandeep Mathurani, along with many top management people, have also left the company.
02:40 WeWork has said that its bankruptcy will not affect India's business.
02:46 The Indian business is invested by the reality firm Embassy Group and has seen continuous growth in business.
02:52 WeWork is 73% of the Embassy Group in India, while WeWork Global is 27%.
03:00 WeWork has 50 centers in India's 7 cities, New Delhi, Gurugram, Noida, Bangalore, Pune and Hyderabad.
03:07 The company's revenue has increased by 40% in June 2023 and has become Rs. 400 crore.
03:12 The company is going to file for Diwali next week.
03:16 Do you think WeWork will have any impact on India?
03:20 Is what the company has said true or not?
03:23 Do tell us by commenting.
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03:31 Hooli.
03:31 (gentle music)