WeWork Set To Receive Investment In Excess Of $3 Billion From SoftBank

Japan’s SoftBank Group Corp SFTBF is set to close an investment in WeWork, worth more than $3 billion, according to CNBC. The investment in the collaborative workspace company is part of SoftBank’s initiative to invest over $50 billion in the United States.

If the deal closes, the shared real estate startup would be valued at more than $20 billion. The company was most recently valued at $17 billion from its latest round of funding, after closing deals with Goldman Sachs Group Inc GS, Benchmark, and Hony Capital over the past two years.

For WeWork shareholders, there is a tender offer for around $44.10 per internal share.

Related Link: What SoftBank's $50 Billion Investment Means For Sprint, Twitter

WeWork’s massive valuation may indicate that the rise of co-working spaces, a clear result of the rise of sharing economy, may be here to stay. WeWork has transformed the dull office into a platform for creators, and is known as the Uber of Office space.  The company is aggressively expanding, now with 150 locations in 15 countries.

If you’re looking for cool fintech startups and access to top financial institutions, and are sick of attending stuffy corporate conferences, the Benzinga Global Fintech Awards is the event for you. From its first year in 2015, the competition grew to over 250 applicants and over 500 attendees in 2016.

Connect with us on social media — use the hashtag #BZAwards and #Fintech to spread the word!

Image Creidt: By オメガモン - Own work, CC BY-SA 3.0, via WIkimedia Commons
Posted In: CNBCFintechNewsFinancingTechMediaWeWork
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