WeWork private school WeGrow closes among IPO fairs, Adam Neumann Ouster
In WeWork's large merger before the IPO, a few of the company's side businesses had to hit the bricks. It was announced Friday that WeGrow, the experimental educational animal project of expelled WeWork founder Adam Neumann's wife, will not survive.
As The Huffington Post first reported, WeWork told parents with children who were enrolled in their elite, yoga-obsessed Manhattan private school that the doors would close at the end of the school year.
"WeWork will continue to operate WeGrow throughout the rest of the 2019-2020 school year, providing a quality education and classroom experience for all students," a WeWork representative said in a statement. "As part of the company's efforts to focus on its core business, WeWork has informed the families of WeGrow students that we will not operate WeGrow after this school year."
The school registered around 1[ads1]00 students as of 2019; many of them were allegedly children of employees or on scholarships. It was the brainchild of Rebekah Neumann, who also served as WeGrow's CEO among her other roles in WeWork and who left the co company in the midst of her husband's husband.
Adam Neumann and his close associates were pushed into a leadership rink initiated by Softbank, the Japanese mega-corporation that invested in WeWork as a $ 100 billion venture into venture capital for fast-growing technology companies. [19659002] As The Daily Beast previously reported, WeWorks instability made it a risky choice for New Yorkers willing to spend piles of money on an alternative education.
"Be wary of sending your child to a school run by a company that has financial problems," said a consultant. " Did the Lehman Brothers ever have a school? Enron? "
