As per Variety, WeWork was viewed as the next hot startup and was valued at nearly USD 50 billion at one time. However, the company pulled the plug on an initial public offering in September 2019 in the wake of revelations about the erratic management, personal enrichment of co-founder Adam Neumann, questions about its business model, and the role of funders like JPMorgan and Softbank. Neumann resigned from the company around this time, while WeWork accepted a bailout from SoftBank in October.