Thursday, June 14, 2018

"New SoftBank investment could double WeWork’s valuation to as much as $40 billion "

Comedian Robin Williams used to say “Cocaine Is God’s Way Of Telling You That You Make Too Much Money.”
I'm starting to get that vibe from SoftBank.

From MarketWatch, June 13:

WeWork could become second-most valuable startup, behind Uber
SoftBank Group Corp. is in discussions to invest another giant slug of capital in WeWork Cos., with a deal that would value the shared-office company at $35 billion to $40 billion, according to people familiar with the matter.

Such an investment would roughly double WeWork’s $20 billion valuation, set last August when SoftBank 9984, -0.51%   invested $4.4 billion in the company. It would make the New York firm the second most valuable privately held, venture-backed U.S. startup behind Uber Technologies Inc.
WeWork and SoftBank are talking about a multibillion-dollar investment, though the people caution the discussions are in flux. SoftBank’s $93 billion tech-focused Vision Fund, which led last year’s deal, would also lead this investment, these people said....MORE