Boardroom Dramas and Firm Grip

co: It invested in We Co. at a 47 billion valuation in January, yet stock market investor skepticism led to the startup considering a potential valuation in the IPO earlier this month of as low as 10 billion, according to The Japan Times. What was the venture capital world's biggest upset is now morphing into one of corporate America's most high-profile boardroom dramas. The rare showdown between Soft Bank and one of its biggest investments comes after We Co. postponed its initial public offering last week following pushback from prospective investors not just over its widening losses, but also over Neumann's unusually firm grip on the company. ; The move was a blow for Soft Bank, which was hoping that We Co.'s IPO would bolster its profits as it seeks to woo investors for its second 108 billion 11.6 trillion Vision Fund. Some We Co. board directors are deliberating how to replace Neumann as CEO, the sources said Sunday. Venture capital firm Benchmark Capital, another big investor in We Co., would also like Neumann to step aside, one of the sources said. The exact number of directors opposed to Neumann is not clear. (news.financializer.com). As reported in the news.