WeWork reported that it burned through $467 million in cash in the fourth quarter, a sign that the co-working space provider’s financial condition remains weak, even as revenue rose 7.8% to $718 million. For the full year, the company burned through $2.2 billion. The company is forecasting a much better year in 2022. It projects revenue will bounce back to $3.4 billion in 2022, up about a...
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Chinese Investment Giant Hillhouse Capital Seeks to Expand Outside China
Hillhouse Capital Group, the Chinese sprawling investment powerhouse that has drawn comparisons to Tiger Global Management, has a new challenge: growing outside China. The firm is best known for investments in Chinese tech giants such as Tencent, JD.com, Didi Global and TikTok owner ByteDance. But the devastation of China’s private equity and venture capital sectors, caused by...
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