Shulou(Shulou.com)11/24 Report--

CTOnews.com July 11 news, has been Softbank Corp. and other investors invested more than 2 billion dollars of smart window company View Inc. Got into a crisis after going public. The company was accused of financial fraud, its share price plummeted, and faced the risk of delisting and bankruptcy. Rao Murpuri, the company's founder and chief executive, remains confident about the company's future, but some investors and analysts believe the company went public too early to be ready.

View Inc. The company was founded in 2008 and is headquartered in Milpitas, California. Its windows can be toned according to the position of the sun to maintain indoor temperature, save energy costs, and turn windows into giant computers or demo screens. View Inc. The company's vision is to cover commercial buildings across the country with energy-efficient, multi-functional windows. The company has spent years developing the technology behind its products, has installed such windows in more than 400 buildings and now has about 100 customers.

However, the company is mired in fraud allegations and a collapse in its share price. It is reported that the company laid off nearly 1/4 of its employees at the beginning of this year. Last week, the company reached a settlement with the Securities and Exchange Commission (SEC) to resolve the misrepresentation that the former chief financial officer was accused of underestimating the cost of replacing a "substantial" defective window by $28 million. (SEC did not fine the company because it reported misconduct on its own. )

Despite the company's efforts to cut costs and raise money, View appears to be facing an existential crisis, it has been warned of possible delisting, and the company recently said it would not have enough money to sustain operations beyond September without additional financing. After peaking at $12.49 in 2021, the company is now trading at just 13 cents (as of Monday) and a market capitalization of just $33 million (CTOnews.com Note: currently about 239 million yuan).

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