Don’t Build the Wrong Kind of AI BusinessRead More

Sandeep Mathrani, shown in 2010. Photo: Bloomberg
startups real estate venture capital

WeWork’s Next CEO Is a Mall Turnaround Expert

Photo: Sandeep Mathrani, shown in 2010. Photo: Bloomberg

In 2010, Sandeep Mathrani took over as chief executive of mall owner General Growth Properties, which had just filed for the largest-ever real estate bankruptcy. Mathrani raised billions of dollars to recapitalize the company, spun off struggling malls and eventually sold the firm for $15 billion. 

WeWork, another troubled real estate firm hoping for a turnaround, on Saturday named Mathrani as its next CEO. He will be taking the helm of the co-working company months after it nearly collapsed, and when it still is trying to raise billions of dollars in new capital from investors to keep going. 

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The Briefing startups uber/lyft
Oscar Health’s New CEO Has a Tough Job—but Lyft’s New CEO Has It Worse
By Martin Peers · March 29, 2023 5:00 PM PDT
Mark Bertolini, Oscar Health's new CEO. Photo by Bloomberg.
Mark Bertolini must be feeling pretty good. Since he was named the new CEO of Oscar Health on Tuesday, Oscar’s long-suffering stock has bounced 78%. OK, skeptics will point out that bounce was off a very low base—the stock was at $3.59 on Monday. And even after the rally, Oscar stock is still down 84% from its initial public offering price. But any stock lift is better than the alternative,...
Latest Briefs
 
Startup Wiz Finds Critical Azure Flaw Tied to Bing Search
By Kevin McLaughlin · March 29, 2023
ByteDance Promoting Lemon8, New Community App in U.S.
By Martin Peers · March 29, 2023
Binance.US Expects to Fix ACH Transfers in 24 Hours
By Aidan Ryan · March 29, 2023
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Bill Gurley in 2019. Photo by Bloomberg
Exclusive
Good Eggs Cuts Its Valuation 94% in Lifeline Financing as More Startups Get Desperate
By Amir Efrati
As more startups struggle to raise money from venture capitalists and approach bankruptcy, they are going to extreme lengths to stay afloat.
Art by Clark Miller.
Opinion startups
Don’t Build the Wrong Kind of AI Business
By Ben Parr
At a catch-up coffee a few weeks ago, a founder friend asked me, “What AI thing should we build?” It was the third time that week a founder had asked me the same question.
Block chairman and co founder Jack Dorsey. Photo by Getty
markets
Fintech’s Big Wakeup Call
By Ann Gehan
Fintechs were supposed to transform banking by making it dead simple for users to open savings accounts or pay their bills.
Art by Clark Miller.
Market Research e-commerce culture
The Skin-Tech Devices Helping Execs Beautify in a Hurry
By Aja Mangum
I’m always 29 at heart,” said Liyia Wu, CEO of ShopShops, a livestream shopping app for fashion, beauty and lifestyle products.
Art by Clark Miller
Surreal Estate real estate
Silicon Valley’s Realtors, Like Its Bankers, Are Having a Tough Month
By Zara Stone
In early March, Ken DeLeon, founder of DeLeon Realty, a Silicon Valley–based brokerage that sold more than $1 billion in homes in 2021, called one of his venture capitalist clients to discuss the purchase of a $20 million–plus megamansion.
Art by Clark Miller.
Caffeinated Capitalists venture capital
Venture Capital’s 25 Favorite Cafes
By Annie Goldsmith
Coupa Cafe in Palo Alto. Buck’s of Woodside. The Creamery in SoMa (RIP). Silicon Valley’s coffee shops have undoubtedly seen more dealmaking than any one fancy office building or members’ club.