Date
16 October 2018
SoftBank's investment in WeWork could be between US$15 billion and US$20 billion, the Wall Street Journal reported. Photo: Bloomberg
SoftBank's investment in WeWork could be between US$15 billion and US$20 billion, the Wall Street Journal reported. Photo: Bloomberg

SoftBank in talks to take majority stake in WeWork: WSJ

Japan’s SoftBank Group Corp. is in talks to take a majority stake in shared office space provider WeWork Cos, in what would be one of the largest deals of the past decade’s startup boom, the Wall Street Journal reports.

The investment could be between US$15 billion and US$20 billion and would likely come from SoftBank’s Vision Fund, WSJ said, citing people familiar with the talks.

SoftBank is in talks about a major new investment in WeWork, a source told Reuters on Tuesday, adding that it had not been decided if it would be a majority stake.

WeWork and SoftBank declined to comment.

SoftBank, with its US$93 billion Vision Fund, is known for its appetite for big technology investments. It already holds a stake in WeWork, is the largest shareholder in Uber and has stakes in China’s ride-hailing app Didi and Southeast Asia’s Grab.

WeWork is an eight-year-old, venture-backed startup that leases commercial office space to companies in 77 cities on a month-to-month basis. Reuters

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