The company went public in 2021 through a combination with a special purpose acquisition company, two years after its planned IPO was infamously scuttled amid investor concerns about the company’s governance, valuation and growth prospects. The failed deal led to founder Adam Neumann’s resignation as chief executive officer and led to a dramatic slide in WeWork’s valuation, which once stood as high as $47 billion.

Source: WeWork Files for Bankruptcy, Capping Co-Working Company’s Downfall