WeWork reportedly expected to lay off 2,000 workers as early as this week

WeWork is expected to lay off at least 2,000 people, about 13% of its staff, as soon as this week, the Guardian newspaper reported. WeWork staff told the Guardian that they believe the cuts will not stop there, suggesting more of the company’s 15,000 person workforce could be sacked. The Information reported in September that executives and bankers have discussed cutting up to a third of those workers. Employees also told the Guardian that little to no work is getting done at the company and new


WeWork is expected to lay off at least 2,000 people, about 13% of its staff, as soon as this week, the Guardian newspaper reported. WeWork staff told the Guardian that they believe the cuts will not stop there, suggesting more of the company’s 15,000 person workforce could be sacked. The Information reported in September that executives and bankers have discussed cutting up to a third of those workers. Employees also told the Guardian that little to no work is getting done at the company and new
WeWork reportedly expected to lay off 2,000 workers as early as this week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, reported, startup, week, expected, guardian, 2000, staff, report, softbank, told, early, neumann, company, workers, reportedly, wework, lay


WeWork reportedly expected to lay off 2,000 workers as early as this week

WeWork is expected to lay off at least 2,000 people, about 13% of its staff, as soon as this week, the Guardian newspaper reported.

WeWork staff told the Guardian that they believe the cuts will not stop there, suggesting more of the company’s 15,000 person workforce could be sacked. The Information reported in September that executives and bankers have discussed cutting up to a third of those workers. The embattled start-up is attempting to turn its fortunes around with painful cost reduction measures.

Employees also told the Guardian that little to no work is getting done at the company and new projects have been put on hold.

WeWork declined to comment to the Guardian. Representatives for the company did not immediately respond to CNBC’s request for additional comment.

Last month, the start-up pulled the plug on plans to go public. Its much-anticipated IPO prospectus in August revealed a massive $900 million loss in the first six months of 2019 and drew skepticism over its corporate governance. WeWork had a private market valuation of about $47 billion but its potential value in the public market had been slashed significantly.

There has also been a showdown between former CEO Adam Neumann and SoftBank chief Masayoshi Son, who has invested billions into the start-up. Neumann stepped down last month. It was also reported that SoftBank has readied a financing package to take control of the company and further sideline Neumann, who is also a co-founder.

WeWork rents out office spaces to start-ups, freelancers and enterprises by investing in real estate in some of the most expensive markets around the world. It makes money back over time as companies and individuals pay their rent or membership fees.

Read more about the Guardian’s report on WeWork’s plans to sack 2,000 staff here.

— CNBC’s Alex Sherman and Lauren Feiner contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, reported, startup, week, expected, guardian, 2000, staff, report, softbank, told, early, neumann, company, workers, reportedly, wework, lay


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This Chinese-based company may be the world’s most valuable startup

This Chinese-based company may be the world’s most valuable startup1 Hour AgoCNBC’s Julia Boorstin reports on the largest private, venture backed company in the world.


This Chinese-based company may be the world’s most valuable startup1 Hour AgoCNBC’s Julia Boorstin reports on the largest private, venture backed company in the world.
This Chinese-based company may be the world’s most valuable startup Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11
Keywords: news, cnbc, companies, worlds, startup, reports, startup1, largest, chinesebased, company, venture, world, valuable, julia, private


This Chinese-based company may be the world's most valuable startup

This Chinese-based company may be the world’s most valuable startup

1 Hour Ago

CNBC’s Julia Boorstin reports on the largest private, venture backed company in the world.


Company: cnbc, Activity: cnbc, Date: 2019-10-11
Keywords: news, cnbc, companies, worlds, startup, reports, startup1, largest, chinesebased, company, venture, world, valuable, julia, private


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Lab-grown meat start-up raises $14 million to build production plant

Now, one of those start-ups has raised $14 million to produce its cultured meat products. Future Meat Technologies, which was founded in 2018 and based in Israel, is trying to do for lab-grown meat what Beyond Meat and Impossible Foods have done for plant-based meat. Future Meat is far from the only company that has set out to create affordable cell-cultured meat. S2G Ventures, a Chicago-based venture capital fund that invests in food and agriculture, and Emerald Technology Ventures, a Swiss-bas


Now, one of those start-ups has raised $14 million to produce its cultured meat products. Future Meat Technologies, which was founded in 2018 and based in Israel, is trying to do for lab-grown meat what Beyond Meat and Impossible Foods have done for plant-based meat. Future Meat is far from the only company that has set out to create affordable cell-cultured meat. S2G Ventures, a Chicago-based venture capital fund that invests in food and agriculture, and Emerald Technology Ventures, a Swiss-bas
Lab-grown meat start-up raises $14 million to build production plant Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: amelia lucas
Keywords: news, cnbc, companies, plant, raises, ventures, production, meat, capital, cultured, future, startups, raised, build, labgrown, million, startup, round


Lab-grown meat start-up raises $14 million to build production plant

As meatless burgers have landed at Burger King and Carl’s Jr., dozens of start-ups are racing to be the first to sell beef grown in a lab.

Now, one of those start-ups has raised $14 million to produce its cultured meat products.

Future Meat Technologies, which was founded in 2018 and based in Israel, is trying to do for lab-grown meat what Beyond Meat and Impossible Foods have done for plant-based meat.

Future Meat is far from the only company that has set out to create affordable cell-cultured meat. Several dozen start-ups, mostly in the U.S. and Europe, have sprung up in the last couple of years to develop the product.

But only one, Memphis Meats, has raised more money than Future Meat in a Series A funding round — $17 million in 2017 — thanks to investments from Bill Gates, Richard Branson and Cargill.

S2G Ventures, a Chicago-based venture capital fund that invests in food and agriculture, and Emerald Technology Ventures, a Swiss-based firm, led the $14 million round, Future Meat announced Thursday.

“What we think separates Future Meat is that they have an actual plan to get to commercially viable price points that doesn’t require massive capital expenditures or future breakthroughs,” S2G managing director Matt Walker said in an interview.

Future Meat plans to use the proceeds to expand research and development efforts and build a cultured meat manufacturing facility to begin production next year.


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: amelia lucas
Keywords: news, cnbc, companies, plant, raises, ventures, production, meat, capital, cultured, future, startups, raised, build, labgrown, million, startup, round


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In-car virtual reality experience launching to the general public at Universal Hollywood

Holoride, an in-car virtual reality (VR) startup, is partnering with Ford and Universal Pictures to launch its technology to the general public. The ride is inspired by Universal Pictures’ 1935 film “Bride of Frankenstein,” with new content created by the Universal Classic Monsters. Universal Pictures has been building virtual reality content for four years, according to Vice President of Technology Partnerships Greg Reed. The company has the potential to work with various automakers, virtual re


Holoride, an in-car virtual reality (VR) startup, is partnering with Ford and Universal Pictures to launch its technology to the general public. The ride is inspired by Universal Pictures’ 1935 film “Bride of Frankenstein,” with new content created by the Universal Classic Monsters. Universal Pictures has been building virtual reality content for four years, according to Vice President of Technology Partnerships Greg Reed. The company has the potential to work with various automakers, virtual re
In-car virtual reality experience launching to the general public at Universal Hollywood Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: contessa brewer jasmine kim, contessa brewer, jasmine kim
Keywords: news, cnbc, companies, virtual, universal, technology, pictures, reality, public, hollywood, content, experience, general, experiences, launching, incar, startup, holoride


In-car virtual reality experience launching to the general public at Universal Hollywood

Holoride, an in-car virtual reality (VR) startup, is partnering with Ford and Universal Pictures to launch its technology to the general public.

The startup announced Wednesday that it’s offering the VR experience at Universal CityWalk Hollywood in Los Angeles, California beginning Oct. 14 through select dates until Nov. 9. The immersive ride will take place in the back seat of 2020 Ford Explorers.

The ride is inspired by Universal Pictures’ 1935 film “Bride of Frankenstein,” with new content created by the Universal Classic Monsters.

Universal Pictures has been building virtual reality content for four years, according to Vice President of Technology Partnerships Greg Reed.

“VR is typically location-based experiences or home experiences,” Reed said. “This is the first opportunity we’ve had to take the content that we’ve been building and put it in a place where consumers are. ”

Holoride is a German tech startup that creates extended reality (XR) experience for users by connecting VR content with physical data points from the vehicle in real-time. The data points include acceleration, steering, traffic data, travel route and more, according to the company’s website.

“As we’re getting to more connectivity in the vehicle, we’re interested in learning about the types of experiences that our customers are interested in…. really understanding the context of how they may want these experiences,” Albert Choi, Ford’s partnership lead for content digital services, told CNBC.

Nils Wollny, Holoride CEO, said the technology could be a game-changer for gaming, entertainment and even education where students can explore ancient Egypt, outer space or even inside the human body.

“What we create is basically a revolution in car entertainment because it adapts to travel time, to route,” he said.

Wollny said his system could make for more efficient use of time. By synchronizing the car’s movement to visual content, the technology aims to create a more immersive experience with reduced motion sickness.

“A lot of people want to work while they’re on the go, but if they get motion sick, they simply can’t,” he said.

He suggested that motion-synchronized spatial computing will make workers more productive.

The CEO said he hopes to have his software installed in vehicles by 2021. He said Holoride will incentivize car makers to offer the system standard in vehicles and then share a portion of the revenue earned from the content.

The company has the potential to work with various automakers, virtual reality headset manufacturers like Facebook’s Oculus and content creators such as Discovery, Disney and Universal.

Holoride is currently in a proof-of-concept phase but the company has previously partnered with Audi, which owns a minority stake in Holoride, to conduct demos at the 2019 Consumer Electronics Show, according to the company’s website.

Disclosure: NBCUniversal is the parent company of CNBC, Universal Studios and Universal CityWalk Hollywood.


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: contessa brewer jasmine kim, contessa brewer, jasmine kim
Keywords: news, cnbc, companies, virtual, universal, technology, pictures, reality, public, hollywood, content, experience, general, experiences, launching, incar, startup, holoride


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FedEx downgraded by Bernstein: ‘Bull thesis has been shredded’

Goldman is crowdsourcing ideas from its employees to find the…Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off. Financeread more


Goldman is crowdsourcing ideas from its employees to find the…Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off. Financeread more
FedEx downgraded by Bernstein: ‘Bull thesis has been shredded’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: michael sheetz
Keywords: news, cnbc, companies, goldman, bernstein, say, bull, thegoldmans, thesis, downgraded, fedex, truly, offfinanceread, factory, shredded, startup, far, employees, ideas


FedEx downgraded by Bernstein: 'Bull thesis has been shredded'

Goldman is crowdsourcing ideas from its employees to find the…

Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off.

Finance

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Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: michael sheetz
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JP Morgan cuts Disney earnings estimates and warns other analysts may too

Goldman is crowdsourcing ideas from its employees to find the…Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off. Financeread more


Goldman is crowdsourcing ideas from its employees to find the…Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off. Financeread more
JP Morgan cuts Disney earnings estimates and warns other analysts may too Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, morgan, goldman, disney, say, cuts, analysts, thegoldmans, warns, estimates, truly, offfinanceread, factory, startup, earnings, far, employees, ideas


JP Morgan cuts Disney earnings estimates and warns other analysts may too

Goldman is crowdsourcing ideas from its employees to find the…

Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off.

Finance

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Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: maggie fitzgerald
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Roku upgraded and analyst predicts users will triple in 3 years

Goldman is crowdsourcing ideas from its employees to find the…Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off. Financeread more


Goldman is crowdsourcing ideas from its employees to find the…Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off. Financeread more
Roku upgraded and analyst predicts users will triple in 3 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: yun li
Keywords: news, cnbc, companies, goldman, say, employees, thegoldmans, roku, analyst, truly, offfinanceread, factory, upgraded, triple, startup, far, predicts, users, ideas


Roku upgraded and analyst predicts users will triple in 3 years

Goldman is crowdsourcing ideas from its employees to find the…

Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off.

Finance

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Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: yun li
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FedEx downgraded by Bernstein: ‘Bull thesis has been shredded’

Goldman is crowdsourcing ideas from its employees to find the…Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off. Financeread more


Goldman is crowdsourcing ideas from its employees to find the…Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off. Financeread more
FedEx downgraded by Bernstein: ‘Bull thesis has been shredded’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: michael sheetz
Keywords: news, cnbc, companies, goldman, bernstein, say, bull, thegoldmans, thesis, downgraded, fedex, truly, offfinanceread, factory, shredded, startup, far, employees, ideas


FedEx downgraded by Bernstein: 'Bull thesis has been shredded'

Goldman is crowdsourcing ideas from its employees to find the…

Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off.

Finance

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Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: michael sheetz
Keywords: news, cnbc, companies, goldman, bernstein, say, bull, thegoldmans, thesis, downgraded, fedex, truly, offfinanceread, factory, shredded, startup, far, employees, ideas


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JP Morgan cuts Disney earnings estimates and warns other analysts may too

Goldman is crowdsourcing ideas from its employees to find the…Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off. Financeread more


Goldman is crowdsourcing ideas from its employees to find the…Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off. Financeread more
JP Morgan cuts Disney earnings estimates and warns other analysts may too Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, morgan, goldman, disney, say, cuts, analysts, thegoldmans, warns, estimates, truly, offfinanceread, factory, startup, earnings, far, employees, ideas


JP Morgan cuts Disney earnings estimates and warns other analysts may too

Goldman is crowdsourcing ideas from its employees to find the…

Goldman’s start-up factory has created about 12 businesses so far, but it’s too early to say if any will truly take off.

Finance

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Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, morgan, goldman, disney, say, cuts, analysts, thegoldmans, warns, estimates, truly, offfinanceread, factory, startup, earnings, far, employees, ideas


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The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up

Siu Rui Quek had always been entrepreneurial. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell


Siu Rui Quek had always been entrepreneurial. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell
The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: karen gilchrist
Keywords: news, cnbc, companies, students, mentor, jack, zuckerberg, inspired, multimillion, siu, startup, technology, know, dorsey, mark, lesson, rui, build, big, online, quek


The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up

Siu Rui Quek had always been entrepreneurial. As a teen, he would fuel his passion for technology and earn extra cash buying and selling gadgets online. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. That lesson? Know your mission. Quek is co-founder and CEO of $550 million online consumer marketplace Carousell. He started the business with his college friends Marcus Tan and Lucas Ngoo back in 2012 after they were inspired by talks from the top tech talents during an internship in Silicon Valley. And, even today, he says those presentations played a vital role in shaping Carousell’s success.

I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Siu Rui Quek co-founder and CEO, Carousell

“The one thing that we really learned and took away,” Quek told CNBC Make It, “is to be absolutely mission-oriented and mission-first.” “This idea of being mission-first just helps people transcend personal egos (and) helps create collaboration,” he said. To be sure, the founders did not mentor Quek and his friends directly. “I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way — I know him but he doesn’t know me,” Quek said.

Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. Carousell

But, by watching their presentations and studying their style, Quek said he and his co-founders were inspired to think about the big picture and how they could use technology to solve big issues. “I think the one commonality all of them had was just this whole fascination for using technology to solve problems and make a big impact,” said Quek. For Carousell, that meant building a platform to simplify buying and selling online, which, Quek said, plays into the company’s wider mission to “inspire every person in the world to start selling.”

You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: karen gilchrist
Keywords: news, cnbc, companies, students, mentor, jack, zuckerberg, inspired, multimillion, siu, startup, technology, know, dorsey, mark, lesson, rui, build, big, online, quek


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