Finance
Softbank in talks to invest $15 billion to $20 billion in WeWork
- Softbank may make an investment between $15 billion and $20
billion in WeWork, giving it a majority stake in the co-working
space company, according to the Wall Street Journal. - The discussions are ongoing and a deal is
not guaranteed. -
SoftBank’s technology-focused Vision Fund already
made a $4.4 billion investment in WeWork last August, giving it
a 20% ownership stake in the company.
Softbank is in discussions to invest $15 billion to $20 billion
in WeWork, giving it a majority stake in the co-working space
company, according to a
Wall Street Journal report on Tuesday.
The discussions are ongoing and a deal is not guaranteed,
according to the report, which cites anonymous sources.
The deal is likely to be financed through SoftBanks’ $92
billion Vision Fund, which is backed by Saudi Arabia and Abu
Dhabi wealth funds as well as SoftBank’s own capital, the Journal
reported. The technology-focused Vision Fund already made a
$4.4 billion investment in WeWork last August, giving it a
20% ownership stake in the company.
It’s not clear what valuation SoftBank would give WeWork in
the majority-stake deal. The two companies had been in talks for
a smaller investment this June that would have valued WeWork at
nearly $40 billion, according to The Wall Street
Journal.
Japan-based SoftBank’s largest investment to date in a
venture-backed startup was $7.7 billion for
15% ownership in Uber, according to The Wall Street
Journal.
Representatives of SoftBank and WeWork did not immediately
return Business Insider’s requests for comment.
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