Vimeo to become a publicly traded company. We will hear about the content strategy and a new hiring feature. First, our top story. More worries for wework. Pressure is mounting to oust ceo adam newman ceo adam neumann after the delayed ipo. The board was supposed to meet today but they are likely going to meet later this week. Huet covers startups and she joins me. Why the shakeup . Ellen insane week in the last week or two. Pressure first to delay the ipo and now it seems like there are reports to consider replacing the ceo, adam neumann. A lot of back and forth within the board. Maybe delay the ipo october and later. We seem to be watching as it unfolds. Possible Board Meeting this week , not expected today but likely very soon. Taylor who wants adam neumann out . Ellen that is most likely softbank. They hold two board seats. It seems like they also have support from benchmark. One board seat has been an early investor. Some viewers they remember was also instrumental in the ousting
Progressive minded solutions to Climate Change using technology. First, to our top story. Saying adam newman is stepping down. He will take on a new role. For more, i want to bring in Bloomberg Technology editor tom. What was the reaction to this . What this shows is that they are serious about salvaging the ipo. We saw it coming. This is something that they had been pushing for for a long time. They said the number two shareholder was also behind it. This sends a signal to investors that we are taking your concerns seriously. He has been very out there. There were concerns about his wife, rebecca. He will have less sway over the board going to three votes per share. Is stepping down and will become a nonexecutive chairman. All this says to shareholders is that we hear you, we are concerned about the governance issues that came from having him so central to this company. Even to its credit, adam newman, any email that he sent to the company, we got a copy of it and posted it on the ter
Augmented and virtual reality. And rapid climate adaptation. Billionaire bill gates wants to help invest nearly 2 trillion over the next decade to help the world become more resilient. His thoughts on and potential solutions for Climate Change. For wework, it was the roadshow that wasnt this week. One of the most anticipated public debuts of the year, it is now postponed until october. The shared Office Space Provider is looking for time to calm investor doubts about its dropping valuation, governance problems, and financials. Remember that, at one point, this was supposed to be a 47 billion company. That number is now 15 billion and could be perhaps even smaller. Joining me to discuss this all was phil haslett, cofounder and chief revenue officer at equityzen, a secondary marketplace for preipo shares and bloombergs crystal tse. Crystal they have a lot to address before they can go out to the investors and ask them for their money. Like you said, they were looking for a 47 billion val
Strategy and a new hiring feature. First, our top story. More worries for wework. Pressure is mounting to oust ceo adam neumann after the delayed ipo. The board was supposed to meet today but they are likely going to meet later this week. Ellen huet covers startups and she joins me. Why the shakeup . Ellen insane week in the last week or two. Pressure first to delay the ipo and now it seems like there are reports to consider replacing the ceo, adam neumann. A lot of back and forth within the board. Maybe delay the ipo october and later. We seem to be watching as it unfolds. Possible Board Meeting this week, not expected today but likely very soon. Taylor who wants adam neumann out . Ellen that is most likely softbank. They hold two board seats. It seems like they also have support from benchmark. One board seat has been an early investor. Some viewers they remember was also instrumental in the ousting of Travis Kalanick from uber. It nevertheless remains, at least softbank and benchmar
Constructive. It needs funds to help reduce a crippling total debt of 130 billion. The streets of hong kong, demonstrators clashing with police for a 16th consecutive weekend. Shery lets get you started with a check of the markets. Seeing u. S. Futures gaining ground,. 5 . This after the s p 500 lost ground on friday. We have seen stocks higher throughout the session. The we got reports that chinese delegation in the u. S. Had canceled their visit to u. S. Farms. That led markets lower. We had trade sensitive stocks, like consumer stocks and tech, leading the declines. The nasdaq fell the most in over two weeks. After the close, we saw local media reports in china that the cancellation of those trips to u. S. Farms had nothing to do with trade negotiations. Perhaps risk on sentiment being felt across the market. Treasuries rallied throughout the week. 10 year yields now at the moment at 172 level. Lets see how things are shaping up in asia. Japan markets are closed on holiday, but the