WeWork Cos. is seeking to raise funds at a $35 billion valuation, a price tag that would place the co-working startup above companies like Airbnb and SpaceX, according to an executive at SoftBank Group Corp., which is a major WeWork investor.
Rajeev Misra, who runs SoftBank’s $100 billion Vision Fund and is the chief executive officer of SoftBank Investment Advisors, said Tuesday at the CogX conference in London that even though WeWork has been criticized as overvalued at $17 billion, it’s now raising money at $35 billion, according to a person who saw a video of the talk, which is no longer available online. Misra also said that WeWork could at some point be a $100 billion company, but didn’t comment further on whether SoftBank would participate in this funding. WeWork declined to comment.