Money

WeWork, once valuable U.S. startup, declares bankruptcy

Published

1 month ago

November 7, 2023

ticker NEWS

WeWork, the co-working giant backed by SoftBank, has officially declared bankruptcy, marking a stunning downfall for what was once the most valuable startup in the United States.

The company’s financial troubles have been mounting for years, and this move represents a significant chapter in its tumultuous history.

Once hailed as a disruptive force in the real estate and office space industry, WeWork’s rapid expansion and lavish spending ultimately led to its downfall. The COVID-19 pandemic further exacerbated its problems as remote work became the norm, causing a sharp drop in demand for office spaces. WeWork struggled to meet its lease obligations, resulting in a cascade of financial challenges.

SoftBank, which had invested billions in WeWork, attempted to rescue the company with a bailout package in 2019, but the efforts proved insufficient.

Now, WeWork has no choice but to seek protection under bankruptcy laws to restructure its debts and attempt to salvage its remaining assets.

The bankruptcy of WeWork raises questions about the future of co-working spaces, the role of venture capital in the tech industry, and the impact of the pandemic on traditional office spaces. Can WeWork’s downfall serve as a cautionary tale for other high-flying startups, and what lessons can be learned from its rise and fall?

Leaders

Diversifying and enhancing payment methods

Published

22 hours ago

December 8, 2023

ticker NEWS

American Express reveals Australian homeowner bill payment insights

In response to the growing trend of card and tap-and-go payments, organisations are adapting their systems to accommodate diverse payment options.

American Express recently conducted research shedding light on homeowner sentiments towards local councils, with a focus on Australian attitudes and behaviours related to bill payments.

Vice President and General Manager of Global merchant services at American Express, Robert Tedesco, provides his insights.

Leaders

Explosive growth and dominance of the audio industry

Published

1 day ago

December 8, 2023

ticker NEWS

Global radio market hits staggering $143 billion valuation, cementing audio industry’s dominance

The audio industry continues to assert itself as a formidable force, with the 2023 global radio market reaching a substantial value of $143 billion.

The podcast market has surged to an impressive worth of $18.52 billion, showcasing a compound annual growth rate of 27.6%.

Tony Simmons, CEO and founder of Sonnant, discusses how the audio industry can be made even better.

Presented by VentureCrowd – To find out more about Conscious Investing, head to www.venturecrowd.com.au

Money

Nick Kyrgios shocks fans with surprise OnlyFans announcement

Published

1 day ago

December 8, 2023

ticker NEWS

Tennis sensation Nick Kyrgios sent shockwaves through the sports and entertainment world today as he revealed a surprising career move.

The Australian athlete, known for his fiery on-court antics and charismatic personality, has announced his entry into the world of OnlyFans, a platform typically associated with adult content creators.

In an unexpected turn of events, Kyrgios took to social media to share the news with his followers. He stated, “I’ve always enjoyed pushing boundaries and breaking the mold. I’m excited to announce that I’ll be joining OnlyFans to share exclusive content and connect with my fans in a new way.”

The announcement has left fans and pundits alike wondering what kind of content Kyrgios will be sharing on the platform.

The decision has sparked a debate about the intersection of sports and social media, as well as the evolving landscape of content creation.

Some fans are eagerly anticipating behind-the-scenes glimpses of Kyrgios’s life, while others are questioning the potential impact on his professional tennis career.