Venture Capital
SoftBank Invests $300 Million in WeWork
A WeWork co-operative co-working space in Washington.
Photographer: Mandel Ngan/AFP via Getty ImagesThis article is for subscribers only.
SoftBank Group Corp. invested $300 million in WeWork Cos., a person familiar with the matter said, an influx of cash that values the New York-based coworking giant at more than $17 billion.
The investment from SoftBank is the first in what will probably be a much larger stake, said the person, who asked not to be identified . The additional cash is expected to come from the $100 billion Vision Fund. With the new money, WeWork's valuation increases to about $18 billion, according to an estimate by private stock market provider Equidate.