WeWork para registrar IPO, adiciona mulher ao conselho, impõe multa de US $ 5,9 milhões ao CEO

The We Company, rebranded from WeWork earlier this year, has raised some points in front of its investors before filing for its initial public offering. The workspaces sharing startup wants to incorporate one woman to the board team of all-male members and asking its CEO to repay $5.9 Million for using the trademarked word “We” after the company rebranding.

Moreover, the investors criticized the company’s IPO filing in August, which disclosed many unfamiliar links between the workspace sharing startup and its most senior corporate, CEO Adam Neumann. Some documents reveal that Neumann is the sole proprietor of the company’s some properties.

Corporate administrative supporters warned the We Company’s recent moves might not be sufficient to overwhelm concerns about Neumann’s control on the company, coupled by a multi-class share structure intended to give him functional control.

The We Company had initially decided to go public with a board team of all-seven male members. However, according to several investors like BlackRock Inc, the diversity in boards leads directors to make better decisions.

The We Company also mentioned in a revised filing that it would include one more director to its board within a year of filing IPO. The company has committed to improving the board’s gender equality as well as ethnic diversity.

On a related note, in this era of continuously growing household debts, a startup, named Credit Sesame, has designed tools to assist consumers better manage their expenses. The startup is performing well, which is concluded through its plans for an IPO and funding round.

Credit Sesame allows the customers to review their credit scores and assess alternatives to stabilize existing loans and debts to recover that score. In short, the app helps customers to manage their financial health, said by the Founder and CEO Adrian Nazari. In the most recent funding round, the company has raised $43 Million. However, the company is not revealing its current market evaluation.

Lawrence McKay Subscriber
Lead Editor & Writer At The CMYK Digest

Lawrence has deep knowledge in the Business sector. He accomplished Master of Science in Information Technology Degree and holds 7 years of experience in this domain. While Lawrence has expertise in writing any news report in the Business sphere, he is always happy to write stock market-related news. Lawrence is a soft-spoken person and is always ready to help his team members. He believes that to become successful in life—be it a personal or professional—one must be adaptive and show persistence in their efforts.

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