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WeWork Rebrands As The We Company Amid $6 Billion Softbank Round

Co-working space provider WeWork has announced a revamp of its corporate structure, bringing all of its business ambitions under one unit, The We Company which now houses three main brands - WeWork, WeLive and WeGrow amid the close of a $6 billion round from Softbank, $5 billion in form of primary growth capital and the remaining $1 billion in secondary capital at a $47 billion valuation.

This round includes a previously announced $4 billion funding commitment from SoftBank in the form of a a $3 billion warrant and $1 billion convertible note, placing Softbank's new investment at $2 billion in-line with previous reports.


“Through the extended WeWork network and the Meetup community, The We Company now touches approximately 5 million people around the world, with the funding to reach millions more. We’re driven by the impact we know we can have when we all work together with a shared intention. I am grateful to our employees, members, and our incredible partner in SoftBank for the…

Qualcomm Says It Emerged Victorious in Case Banning Sale of Older iPhone Models in China

image : Apple

Chipmaker Qualcomm has stated it won a case against Apple that stops the sale of older iPhone models in China which it alleges infringe on its patents. These models include the iPhone 6S, iPhone 6S Plus, iPhone 7, iPhone 7 Plus, iPhone 8, iPhone 8 Plus and iPhone X, the company said in a press release.

“We deeply value our relationships with customers, rarely resorting to the courts for assistance, but we also have an abiding belief in the need to protect intellectual property rights,” Qualcomm executive vice president and general counsel Don Rosenberg said. “Apple continues to benefit from our intellectual property while refusing to compensate us. These Court orders are further confirmation of the strength of Qualcomm’s vast patent portfolio.”

Apple CEO Tim Cook (left) at the company's Palo Alto store

image : Apple

“The Fuzhou Intermediate People’s Court in China has granted the Company’s request for two preliminary injunctions against four Chinese subsidiaries of Apple Inc., ordering them to immediately cease infringing upon two Qualcomm patents through the unlicensed importation, sale and offers for sale in China.” Qualcomm's statement read.

Both companies have been embroiled in legal dispute regarding use of Qualcomm chips which Apple has halted putting away hefty licensing fees which counts as Qualcomm's biggest profit source. This has cost the San Diego based chipmaker billions in revenue with reports of lesser sales since 2014.

image : Qualcomm

Apple and another unnamed company are the only major smartphone makers that do not pay licensing fees to Qualcomm. Apple contends that Qualcomm's fee which comes as a percentage of the phone's selling price should be based on the price of the component instead, a high difference of hundreds of dollars for each sold smartphone.

“Qualcomm’s effort to ban our products is another desperate move by a company whose illegal practices are under investigation by regulators around the world,” Apple said in a statement defending its case. “All iPhone models remain available for our customers in China.”

Licensing fees for Qualcomm chips still count as the major source of its profit even amid these disputes and payment halts.


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