11 votes

SoftBank to take control of WeWork at a pre-funding valuation of $7.5B - $8B, according to sources

Posted by Deimos
Tags: business, softbank, wework, acquisitions, author.david faber, author.alex sherman, author.thomas franck, source.cnbc
https://www.cnbc.com/2019/10/21/softbank-to-take-control-of-wework-sources.html

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Title
SoftBank to take control of WeWork: Sources
Authors
David Faber,Thomas Franck
Published
Oct 21 2019

3 comments

  1. [2]
    Deimos
    Link
    New info: SoftBank will pay former WeWork CEO and current non-executive chairman Adam Neumann around $200 million to leave the board of directors, give up his voting shares and support SoftBank's...

    New info: SoftBank will pay former WeWork CEO and current non-executive chairman Adam Neumann around $200 million to leave the board of directors, give up his voting shares and support SoftBank's takeover

    2 votes
    1. Adys
      Link Parent
      Hmm. My initial reaction to this is that it's a good pickup for SoftBank. WeWork has a lot of assets and is a pretty solid company once you remove the utterly incompetent leadership that got it...

      Hmm. My initial reaction to this is that it's a good pickup for SoftBank. WeWork has a lot of assets and is a pretty solid company once you remove the utterly incompetent leadership that got it into this mess, IMO.

      We'll see. Maybe I'm wrong and this is just another Tumblr pickup.

      3 votes
  2. Deimos
    Link
    And here's the press release that came out last night with the actual details of the agreement: WeWork Announces Significant Funding from SoftBank Group

    And here's the press release that came out last night with the actual details of the agreement: WeWork Announces Significant Funding from SoftBank Group