WeWork has received $3bn in funding from SoftBank Corp, following on from the latter’s $1bn convertible note investment in August. Agreed as a warrant, SoftBank will contribute $3bn for the right to purchase shares before September 2019 at $110 or more, giving WeWork a valuation of at least $42bn. The Japanese conglomerate will pay the first half on 15 January 2019, with WeWork receiving the next $1.5bn three months later, per the Financial Times. The biggest issue is whether or not WeWork can sustain its outrageous growth, which seems to have been the key to its soaring valuation. In addition to its own funding, WeWork is also raising money through an initial public offering (IPO) that could raise up to $2bn (£1.3bn).
WeWork has received $3bn in funding from SoftBank Corp, following on from the latter’s $1bn convertible note investment in August. Agreed as a warrant, SoftBank will contribute $3bn for the right to purchase shares before September 2019 at $110 or more, giving WeWork a valuation of at least $42bn. The Japanese conglomerate will pay the first half on 15 January 2019, with WeWork receiving the next $1.5bn three months later, per the Financial Times. In addition to its own funding, WeWork is also raising money through an initial public offering (IPO) that could raise up to $2bn (£1.3bn).