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

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

Japan’s SoftBank Group Corp (OTC: 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 (NYSE: 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.

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

Posted-In: CNBC WeWorkFintech News Financing Tech Media Best of Benzinga

 

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