Lessons for Ola, OYO and Paytm from SoftBank chief Masayoshi Son's latest sermon
Updated : September 30, 2019 08:55 AM IST
Before SoftBank made it clear that co-sharing workspace company WeWork's Adam Neumann needs to step down as CEO, Masayoshi Son, the CEO of the Japanese investor stressed on the importance of companies becoming profitable before going public.
The change in tack by Son, who is known for encouraging entrepreneurs to pursue their dreams, may have valuable lessons for Indian companies like Paytm, Ola and OYO which plan to launch their initial public offering (IPO) sometime in the near future.
In view of the fact that WeWork had to bid adieu to Neumann, who drew flak from investors after the company filed its draft papers to go public, digital payments major Paytm, ride-hailing company Ola and hospitality giant OYO will have to think twice before going public.