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Neumann's new real estate company, Flow Global, has sought to buy WeWork or its assets, as well as provide bankruptcy financing to keep it afloat, the sources said., DealBook first reported the development, saying Neumann's lawyers sent a letter to WeWork on Monday, claiming Daniel Loeb's hedge fund Third Point would help finance the transaction.
WeWork's bankruptcy filing follows a dramatic decline in value from $47 billion to as low as $10 billion, driven by losses and corporate governance lapses
WeWork was once the most valuable U.S. startup, worth $47 billion.
WeWork, the SoftBank Group -backed startup whose meteoric rise and fall reshaped the office sector globally, sought U.S. bankruptcy protection on Monday, after its bets on companies using more of its office-sharing space soured.
Congress leader Rahul Gandhi discussed the impact of technology on common man and jobs during a meeting with Silicon Valley startup entrepreneurs. He expressed his appetite for technology and indicated that he is in favour of regulating technologies rather than banning them.