WeWork raising money at $35B valuation: SoftBank exec

Vision Fund reportedly in talks to invest more money

Adam Neumann and Rajeev Misra (Credit: Getty Images and LinkedIn)
Adam Neumann and Rajeev Misra (Credit: Getty Images and LinkedIn)

WeWork may nearly double its worth.

The co-working giant is looking to raise money at a $35 billion valuation, according Rajeev Misra, head of SoftBank’s Vision Fund.

“A year ago, we were told that WeWork was overvalued at $17 billion for real estate,” the executive said at a conference in London on Tuesday, according to Business Insider. “Guess what, they are looking to raise capital at $35 billion today.”

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Meanwhile, sources told the Wall Street Journal that the Japanese conglomerate is considering a multibillion-dollar investment that would value WeWork between $35 billion and $40 billion. The talks are “in flux.”

“Maybe it’s overvalued, but I believe they’ll be a $100 billion company in the next few years,” Misra said.

SoftBank agreed to invest $4.4 billion in WeWork last year, reportedly at a $20 billion valuation. WeWork recently raised another $702 million on the bond market.  [WSJ] and [BI] — Konrad Putzier