Loading...

WeWork is raising 3 billion from SoftBank and its massive tech fund from Ayman's blog

Masayoshi Son SoftBank

WeWork, the fast-growing office leasing startup, has raised 300 million from Japan`s SoftBank and could rake in a total investment of 3 billion in a massive funding round, reports the Wall Street Journal

The deal could be among the first from SoftBank`s 100 billion technology Vision Fund, which was announced last October and is being described as the largest fund of its kind in the world. 

WeWork has just received an investment of 300 million from SoftBank itself, according to the Wall Street Journal. The company is expected to raise a further 2.7 billion from SoftBank`s Vision Fund. 

Private investors currently value WeWork`s business at 17 billion, and the latest investment round is likely to propel WeWork`s valuation even higher, the WSJ said. 

WeWork declined to comment. SoftBank did not immediately respond to a request for comment.

Back in January, it was reported that SoftBank`s Vision Fund was mulling a 1 billion investment in WeWork. At that time, the Wall Street Journal reported that some SoftBank executives were concerned about investing in a startup with such a rich valuation, especially a real estate startup that some see as far afield from the Vision Fund`s tech focus.

The Vision Fund is made up of contributions from SoftBank itself, Saudi Arabia via the Kingdom’s Public Investment Fund, and other investors from around the world, including Oracle Executive Chairman Larry Ellison and Apple.

SEE ALSO: Apple is on the defensive as it prepares the iPhone for the fight of its life

Join the conversation about this story »

NOW WATCH: A police officer`s dashcam captured incredible footage of a meteor lighting up the sky in Illinois


Share:
Previous post     
     Next post
     Blog home

The Wall

No comments
You need to sign in to comment

Like Us On FB

Follow Ayman

Blogger Tricks

Blogs

Ayman Admin
You`ve probably heard the term "Amazoned" recentl... more
Ayman 21 minutes ago
Ayman Admin
The Justice Department has been investigating Sol... more
Ayman 21 minutes ago
Ayman Admin
There may be a fix in the works for San Francisco`... more
Ayman 54 minutes ago
Ayman Admin
A month after officially announcing the competiti... more
Ayman 54 minutes ago
Ayman Admin
ABOARD THE TCG ALEMDAR (Reuters) - In blazing sunl... more
Ayman one hour ago

Groups

Unity3d
4 members
FaceBook
8 members
Cats
8 members
Egypt
17 members
Twinity
17 members
There.com
25 members
  • North Korean leader Kim Jong Un says President Donald Trump's remarks to the United Nations threatening the hermit country reflect "mentally deranged behavior," according to a statement released by North Korea's news agency, KCNA.
    8 hours ago
  • President Donald Trump announced a new set of sanctions on North Korea Thursday, saying the executive action would target individuals and companies that engage in finance and trade with the isolated communist nation.
    10 hours ago
  • North Korea's Kim Jong Un has responded to President Trump's United Nations speech. CNN's Athena Jones reports.
    20 hours ago
Google this