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).
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 separate SoftBank Vision Fund already invested $4.4bn into the co-working firm in 2017.