Katerra


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Katerra facility (Katerra, Getty)
National

Katerra employees fire back with lawsuit over abrupt closure

Reports surfaced June 1 that construction startup Katerra was shutting down its U.S. operations. Three days later, mass layoffs...

Katerra employees fire back with lawsuit over abrupt closure
Masayoshi Son and Katerra's founders Fritz Wolff, Jim Davidson and Michael Marks. (Getty, Katerra)
National

Inside Katerra’s final days

Katerra’s cash position was “perilous.” Its biggest backer, SoftBank, bailed out the construction startup with a $200 million investment in December. Three months later, Katerra’s primary lender, Greensill Capital, became insolvent, sending the startup’s...

Inside Katerra’s final days
Softbank CEO Masayoshi Son (Getty, Katerra, iStock)
National

Katerra files for bankruptcy

Even after shedding hundreds of millions of dollars in debt late last year and receiving a $200 million bailout, Katerra has resorted to bankruptcy in its struggle to survive. The company filed for protection...

Katerra files for bankruptcy
Katerra’s abrupt closure has left clients and subsidiaries in the lurch. (Getty)
National

What Katerra’s shutdown means for clients, subsidiaries

Last week, “rumblings” from Katerra workers on a project site in Jersey City reached developer Paul Silverman. He then...

What Katerra’s shutdown means for clients, subsidiaries
Katerra CEO Paal Kibsgaard (right) and Softbank CEO Masayoshi Son (Getty)
National

Troubled construction startup Katerra will shut down: report

Another SoftBank-backed startup has imploded. The construction startup Katerra, which aimed to transform the $12 trillion global construction industry,...

Troubled construction startup Katerra will shut down: report
Katerra CEO; SoftBank CEO Masayoshi Son and Katerra CEO Paal Kibsgaard (Photos via Katerra; Getty; iStock)
National

SoftBank bails out Katerra with $200M cash injection

Once bitten, twice shy? Not so for Japanese investment firm SoftBank, which despite its ill-fated bet on WeWork has...

SoftBank bails out Katerra with $200M cash injection
Katerra CEO Paal Kibsgaard (Getty)
National

Construction startup Katerra lays off 400+ employees

SoftBank-backed construction startup Katerra has laid off more than 400 employees, one month after new CEO Paal Kibsgaard stepped...

Construction startup Katerra lays off 400+ employees
Katerra CEO Michael Marks (right) is stepping down, and COO Paal Kibsgaard is taking his place. (Credit: Sergey Mihailicenko/Anadolu Agency/Getty Images; SAM YEH/AFP via Getty Images)
National

Katerra CEO steps down from construction startup

Katerra CEO and co-founder Michael Marks is stepping down from the Softbank-backed construction startup to work full-time as managing...

Katerra CEO steps down from construction startup
Katerra CEO Michael Marks and one of the company's prefabrication homes in Saudi Arabia (Credit: YouTube, iStock) 
National

Katerra signs $650M contract with Saudi Arabia to build 8,000 homes

A SoftBank-backed construction startup that has faced questions about its ability to deliver projects in the U.S., just secured...

Katerra signs $650M contract with Saudi Arabia to build 8,000 homes

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