SoftBank and Vision Fund expected to invest $3 billion in WeWork

9



Masayoshi Son SoftBank
SoftBank
Group Corp. Chairman and CEO Masayoshi Son

REUTERS/Kim Kyung-Hoon

WeWork, the fast-growing office leasing startup, has raised $300
million from Japan’s SoftBank and could rake in a total
investment of $3 billion in a massive funding
round, reports
the Wall Street Journal

The deal could be among the first from SoftBank’s $100
billion technology Vision Fund, which was

announced last October
 and is
being described as the largest fund of its kind in the
world.

 

WeWork has just received an investment of $300 million from
SoftBank itself, according to the Wall Street Journal. The
company is expected to raise a further $2.7 billion from
SoftBank’s Vision Fund. 

Private investors currently value WeWork’s business at $17
billion, and the latest investment round is likely to propel
WeWork’s valuation even higher, the WSJ said. 

WeWork and SoftBank declined to comment.

Back in January, it was reported that SoftBank’s Vision Fund was

mulling a $1 billion investment in WeWork
. At that time, the
Wall Street Journal reported that some SoftBank executives were
concerned about investing in a startup with such a rich
valuation, especially a real estate startup that some see as far
afield from the Vision Fund’s tech focus.

The Vision Fund is made up of contributions from SoftBank
itself, Saudi Arabia via the Kingdom’s Public
Investment Fund, and other investors from around the world,
including Oracle Executive Chairman Larry Ellison and
Apple.


Source: einnews.com