和其他房地產(chǎn)企業(yè)一樣,WeWork的日子并不好過(guò)。試想一下,如果大批上班族都選擇了遠(yuǎn)程辦公,那辦公室租賃的生意還能紅火嗎?今年4月,WeWork再度開(kāi)“裁”,離職人員超過(guò)上千人。到了5月,該公司估值已經(jīng)跌至29億美元,甚至不及巔峰時(shí)期470億美元的一個(gè)零頭。
不過(guò),在上周發(fā)布的第二季度財(cái)報(bào)中,WeWork公布的公司營(yíng)收總額卻實(shí)現(xiàn)了持續(xù)性的正向收益。同時(shí),據(jù)彭博社8月14日?qǐng)?bào)道,WeWork的首席財(cái)務(wù)官金伯利·羅斯曾經(jīng)在一封內(nèi)部信中向員工透露,軟銀在之后還會(huì)以擔(dān)保債權(quán)的形式再向WeWork投資11億美元。
“這筆資金代表著軟銀在日后依然會(huì)支持我們公司。”羅斯在信中寫(xiě)道。第二季度,WeWork的總營(yíng)收為8.82億美元,同比增長(zhǎng)9%,較上一季度環(huán)比下降了20%。針對(duì)環(huán)比下降的原因,羅斯在信中認(rèn)為是“疫情對(duì)公司業(yè)務(wù)產(chǎn)生了影響?!?/p>
在另一方面,WeWork的燒錢(qián)屬性仍未消失,該公司公布的第二季度“自由現(xiàn)金流”(描述現(xiàn)金支出的一種委婉說(shuō)法)就達(dá)到了6.71億美元,比第一季度還高。
事實(shí)上,軟銀的這11億美元融資本來(lái)應(yīng)該是和它去年針對(duì)WeWork提出的“95億美元救助計(jì)劃”捆綁在一起的,但今年4月,軟銀卻以“疫情期間經(jīng)濟(jì)情況惡化為由”,宣布撤回其中的一項(xiàng)“30億美元股票回購(gòu)計(jì)劃”。對(duì)此,WeWork的股東對(duì)軟銀的決策委員會(huì)提起了訴訟,其余相應(yīng)的融資計(jì)劃也就被擱置了下來(lái)。
自WeWork初創(chuàng)之際,軟銀就在它身上不斷砸錢(qián),前前后后的投資已經(jīng)超過(guò)100億美元。對(duì)于軟銀來(lái)說(shuō),面對(duì)WeWork這樣深不見(jiàn)底的銷(xiāo)金庫(kù),現(xiàn)在選擇直接投資可能要比回購(gòu)它的30億美元股票更劃算一些。只是,對(duì)于那些急著套現(xiàn)離場(chǎng)的WeWork老股東而言,11億美元根本算不上是什么安慰。(財(cái)富中文網(wǎng))
編譯:陳怡軒
和其他房地產(chǎn)企業(yè)一樣,WeWork的日子并不好過(guò)。試想一下,如果大批上班族都選擇了遠(yuǎn)程辦公,那辦公室租賃的生意還能紅火嗎?今年4月,WeWork再度開(kāi)“裁”,離職人員超過(guò)上千人。到了5月,該公司估值已經(jīng)跌至29億美元,甚至不及巔峰時(shí)期470億美元的一個(gè)零頭。
不過(guò),在上周發(fā)布的第二季度財(cái)報(bào)中,WeWork公布的公司營(yíng)收總額卻實(shí)現(xiàn)了持續(xù)性的正向收益。同時(shí),據(jù)彭博社8月14日?qǐng)?bào)道,WeWork的首席財(cái)務(wù)官金伯利·羅斯曾經(jīng)在一封內(nèi)部信中向員工透露,軟銀在之后還會(huì)以擔(dān)保債權(quán)的形式再向WeWork投資11億美元。
“這筆資金代表著軟銀在日后依然會(huì)支持我們公司?!绷_斯在信中寫(xiě)道。第二季度,WeWork的總營(yíng)收為8.82億美元,同比增長(zhǎng)9%,較上一季度環(huán)比下降了20%。針對(duì)環(huán)比下降的原因,羅斯在信中認(rèn)為是“疫情對(duì)公司業(yè)務(wù)產(chǎn)生了影響?!?/p>
在另一方面,WeWork的燒錢(qián)屬性仍未消失,該公司公布的第二季度“自由現(xiàn)金流”(描述現(xiàn)金支出的一種委婉說(shuō)法)就達(dá)到了6.71億美元,比第一季度還高。
事實(shí)上,軟銀的這11億美元融資本來(lái)應(yīng)該是和它去年針對(duì)WeWork提出的“95億美元救助計(jì)劃”捆綁在一起的,但今年4月,軟銀卻以“疫情期間經(jīng)濟(jì)情況惡化為由”,宣布撤回其中的一項(xiàng)“30億美元股票回購(gòu)計(jì)劃”。對(duì)此,WeWork的股東對(duì)軟銀的決策委員會(huì)提起了訴訟,其余相應(yīng)的融資計(jì)劃也就被擱置了下來(lái)。
自WeWork初創(chuàng)之際,軟銀就在它身上不斷砸錢(qián),前前后后的投資已經(jīng)超過(guò)100億美元。對(duì)于軟銀來(lái)說(shuō),面對(duì)WeWork這樣深不見(jiàn)底的銷(xiāo)金庫(kù),現(xiàn)在選擇直接投資可能要比回購(gòu)它的30億美元股票更劃算一些。只是,對(duì)于那些急著套現(xiàn)離場(chǎng)的WeWork老股東而言,11億美元根本算不上是什么安慰。(財(cái)富中文網(wǎng))
編譯:陳怡軒
Like many businesses with a heavy real-estate presence, WeWork struggled as the pandemic pushed employees out of offices and into homes. It started another round of layoffs in late April, and investor SoftBank valued the company at $2.9 billion in May, a significant downtick from $47 billion a year ago.
But in its second quarter earnings report last week, WeWork surprisingly said revenue rose, adding that SoftBank committed another $1.1 billion, in the form of senior secured notes, to the business.
In a memo to staff, WeWork chief financial officer Kimberly Ross said revenue in the quarter rose 9% year-over-year to $882 million. While that figure is down roughly 20% ($1.1 billion) from the quarter earlier, “Covid-19 has had an impact on our business,” Ross wrote in the memo first viewed by Bloomberg.
The company is still burning quite a lot of cash. In the last quarter alone, WeWork posted “free cash outflows,” a rarely used euphemism for cash burn, of $671 million, a higher rate from the first quarter.
SoftBank’s fresh debt funding also comes after the telecom giant backed out of plans to buy $3 billion in WeWork shares from existing shareholders, including Adam Neumann. WeWork is now facing a lawsuit from the founder, as well as a committee made up of investor Benchmark and board member Lew Frankfort, over the issue. A $1.1 billion financing commitment was originally tied to that tender offer, but went up in the air after the deal was scrapped.
The thing is, SoftBank has already sunk over $10 billion into WeWork. So for SoftBank, a direct investment into the company makes more sense than spending $3 billion on equity that won’t directly feed into such a large investment’s coffers. Though, it's perhaps not much of a consolation for investors that were on the verge of cashing out.