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WeWork gets $3 billion in new funding from SoftBank

Published 13/11/2018, 16:00
© Reuters. People visit the booth of WeWork as they attend the TechCrunch Disrupt event in Manhattan, in New York City
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(Reuters) - U.S. shared office space provider WeWork Cos has secured an additional $3 billion (2.3 billion pounds) in funding from Japan's SoftBank Group Corp (T:9984), according to an investor presentation seen by Reuters.

The latest funding was in the form of a warrant, under which SoftBank will pay WeWork $1.5 billion on Jan. 15 and the remaining on April 15.

WeWork in July said it had raised $500 million from investors, including Temasek Holdings (UL:TEM) and SoftBank Group Corp (T:9984).

© Reuters. People visit the booth of WeWork as they attend the TechCrunch Disrupt event in Manhattan, in New York City

SoftBank was in discussions to buy a majority stake in WeWork, a source told Reuters in October.

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