Embroiled WeWork CEO Resigns as Reports of Drug Use and Bizarre Behavior Surface

The writing was on the wall as a failed IPO, massive workforce layoff, and staggering company devaluation ($47 billion to $15 billion) all combined to catalyze the resignation of embattled Israeli co-founder and CEO, Adam Neumann. WeWork, the co-working conglomerate catering to hip freelancers and remote workers, has been on a dizzying slide the last few months, with deep market criticism of their planned IPO making headlines almost daily.

How High Will Lyft Fly? Ride-Hailing App’s IPO Debut Pops 20% On Friday

The market has spoken, and the battle of the rideshare apps has culminated in a runaway success for Lyft, as the company’s debut on the public market raised about $2.3 billion on Friday. The highly-anticipated initial public offering was fueled by a heavy appetite for the stock, exceeding analysts’ initial projections and selling over 32 million shares at $72 a piece. As trading began, stock prices briefly topped out at $87 a share, settling at around $80 a share by 2pm EST.