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A major corporate tenant is pulling out of a lease with WeWork at its location near Union Square in a building owned by ousted CEO Adam Neumann.
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Adam Neumann left WeWork last September amid turmoil surrounding its failed IPO.
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WeWork Executive Chairman Marcelo Claure said recently that former CEO Adam Neumann had violated the terms of a consulting contract that was part of his buyout.
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Adam Neumann's family office is among the investors in Valon's Series A round.
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A combination of lost memberships, lease exits and a massive settlement with Adam Neumann drove WeWork to a $2.1B loss in Q1, quadruple what it lost a year ago.
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The man who led WeWork into a disastrous IPO attempt in 2019 apparently also played a part in the coworking company's more recent attempt to go public.
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SoftBank and Adam Neumann may reach a $500M deal to end their legal battle.
Former WeWork boss Adam Neumann is now investing in U.S. multifamily assets.
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The Apple TV+ limited series will debut in March.
His return to the board hinges on SoftBank approval, which Neumann has not yet requested.
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