Deals
SoftBank Is Said to Consider Taking a Majority Stake in WeWork
- Investment likely to come from SoftBank’s Vision Fund
- New financing may total $15 billion to $20 billion, WSJ Says
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SoftBank Group Corp. is in talks to take a majority stake in WeWork Cos. as the co-working startup raises additional capital to accelerate its expansion, according to a person familiar with the matter.
The Japanese conglomerate is likely to invest several billion dollars on top of the $4.4 billion that SoftBank and its Vision Fund put in last year, said the person, asking not to be identified because the matter is private. The deal may total $15 billion to $20 billion, the Wall Street Journal reported earlier. WeWork, whose most recent fundraising round valued the company at about $20 billion, was seeking to raise more funds at a $35 billion valuation, Vision Fund chief Rajeev Misra said in June.