Japanese telecom giant mulling $1B WeWork investment

Miami /
Jan.January 31, 2017 12:00 PM

From the New York website: WeWork has yet to open a location in Japan, but it could soon get an enormous investment from the land of the rising sun. Tokyo-based SoftBank is considering paying more than $1 billion for a stake in WeWork as part of a $100 billion technology fund it is currently raising.

Any deal wouldn’t be completed before the fund closes, which is scheduled for mid-February. The investment would likely match or surpass the $17 billion valuation the startup reached in October, when an investor group including Shanghai Jin Jiang International Hotels pumped $260 million into the firm.

SoftBank, a telecommunications and investment firm, had considered buying a stake in WeWork before, but backed off. Sources told the Wall Street Journal that a deal is far from certain this time around amid concerns that WeWork’s stock is too expensive and that the office company doesn’t qualify as a tech firm.

The Real Deal recently reported that WeWork has quietly been adjusting its business model away from a tech startup and toward a more conventional American corporation. [WSJ] — Konrad Putzier


Related Articles

arrow_forward_ios
Juan Jose Zaragoza and Fernando Perez-Hickman with 429 Lenox Avenue (LinkedIn, Google Maps)
Madrid-Miami JV buys WeWork leased office building in South Beach for $37M
Madrid-Miami JV buys WeWork leased office building in South Beach for $37M
A rendering of the 830 Brickell office tower in the Brickell Financial District of Miami with WeWork CEO Sandeep Mathrani, Jonathan Goldstein of Cain International and Vlad Doronin of OKO Group (OKO Group, Cain International, Illustration by The Real Deal with Getty)
WeWork won’t work: Firm backs out of lease at Doronin’s 830 Brickell
WeWork won’t work: Firm backs out of lease at Doronin’s 830 Brickell
Adam Neumann (Getty Images, iStock/Illustration by Steven Dilakian for The Real Deal)
Adam Neumann scores construction loan for Miami Worldcenter apartments, revealing site ownership
Adam Neumann scores construction loan for Miami Worldcenter apartments, revealing site ownership
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Fuse Group Investment CEO Eyal Peretz and attorney Michael Ehrenstein (Fuse, Ehrenstein Sager, Twitter via GUT Miami)
Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach
Fuse Group acquires Security Building in downtown Miami, plans to sue WeWork for alleged lease breach
117 Northeast First Avenue (Getty, Gut Miami via Twitter)
Lender sues owners of downtown Miami WeWork building over allegedly unpaid loan
Lender sues owners of downtown Miami WeWork building over allegedly unpaid loan
Laura Kozelouzek, CEO of Quest Workspaces, and a Quest classroom
Office is out, school is in: Co-working operators try to lure students into workspace
Office is out, school is in: Co-working operators try to lure students into workspace
5212 North Bay Road in Miami Beach and Marcelo Claure (Getty)
SoftBank’s Marcelo Claure pays $11M for North Bay Road teardown
SoftBank’s Marcelo Claure pays $11M for North Bay Road teardown
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...