SoftBank considers investment of over $1b in WeWork

Softbank Corp CEO Masayoshi Son speaks during a news conference in Tokyo February 12, 2014. SoftBank Corp, which runs Japan's third-largest mobile carrier by subscriber numbers, reported a dip in third-quarter net profit after a string of acquisitions incurred steep integration costs. REUTERS/Yuya Shino

SoftBank Group Corp is considering an investment of more than $1 billion in office-space sharing start-up WeWork, the Wall Street Journal reported, citing people familiar with the matter.

The deal could be among the first from SoftBank’s $100 billion technology fund, the WSJ said.

SoftBank and WeWork declined to comment.

WeWork is currently valued at nearly $17 billion and SoftBank’s valuation of the company is expected to be at or above this figure, the WSJ said, citing the sources.

SoftBank has earlier discussed an investment in WeWork before pulling out, the Journal reported, citing two people familiar with the matter, and added talks may not result in a deal this time.

Some SoftBank executives have raised questions whether the WeWork deal is over-valued, saying a company in the business of office space is far afield from tech-focused investments, the newspaper reported.

SoftBank also recently held discussions with Uber Technologies Inc though it isn’t clear if an investment is in the pipeline, the WSJ reported.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.