Adam Neumann, founder of workspace giant WeWork, has invested $ 10 million in GO TO GLOBAl

Adam Neumann, founder of workspace giant WeWork, has invested $ 10 million in GO TO GLOBAL, formerly known as car 2 go and Ototel, for 33% of its shares. The parent company (81.67%), the ambassador car services group, will be left with 54.19%, and the rest of the shares will be held by the company's employees and founders.
Neumann is expected to take an active part in the company and appoint a director on his behalf. His investment reflects to the company a value of $ 30 million after the money. In addition, an $ 9 million shareholder loan from Ambassador and other shareholders was converted, at the same value.
For the past month and a half, negotiations have been conducted with Neumann and a round of recruitment for the company was held. Yossi Ben Shalom, chairman of the ambassador who is friendly with Neumann, introduced him to the company and Neumann even donated to the Reim organization, which Ben Shalom accompanies as chairman. Since Ambassador began trading in 2016, it has risen by 90%, but fell by 55% from its peak value in November 2017, NIS 195 million.
Neumann is expected to take an active part in the company and appoint a director on his behalf. His investment reflects to the company a value of $ 30 million after the money. In addition, an $ 9 million shareholder loan from Ambassador and other shareholders was converted, at the same value.
For the past month and a half, negotiations have been conducted with Neumann and a round of recruitment for the company was held. Yossi Ben Shalom, chairman of the ambassador who is friendly with Neumann, introduced him to the company and Neumann even donated to the Reim organization, which Ben Shalom accompanies as chairman. Since Ambassador began trading in 2016, it has risen by 90%, but fell by 55% from its peak value in November 2017, NIS 195 million.
Since Ambassador began trading in 2016, it has risen by 90%, but fell by 55% from its peak value in November 2017, NIS 195 million. "In recent years, the capital market has given the ambassador a discount because of his holding in Go to Global," Ben Shalom told Calcalist. "Now the company has a value of $ 30 million, which is probably better than the negative value given to it in the past. Ambassador financially supported the company, thus preventing it from doing other things with the money, like distributing dividends or investing in other activities, and now the cash flow is released.
We eventually managed to bring in an investor the size of Adam Neumann, which is proof of our belief in the company despite the reviews. Neumann brings added value with a deep marketing understanding, familiarity and experience in the field of collaboration, and a broad acquaintance with factors abroad.
Neumann preceded the investment in the Israeli gaming company Monactive, which the American Insight Fund entered as an investor last January at a value of $ 1.25 billion. Since the beginning of 2020, Monactive has grown by 50% in the number of players and by 30% in revenue, and it expects that by the end of the year these will reach more than $ 800 million.