SoftBank Is Said to Pick Banks for Telecom Arm IPO



WeWork raises 3 billion from SoftBank, potential valuation of 42 billion

  • Japanese tech giant Softbank has committed an additional billion to WeWork in a deal that would give the office sharing company a valuation of around billion.
  • According to third-quarter financials seen by Business Insider, WeWork has substantially increased its revenue but its losses have more than tripled.

Office sharing firm WeWork has secured an additional billion from Japanese tech giant SoftBank, bringing its total funding and commitments to .4 billion.

The SoftBank cash comes in the form of a warrant, giving WeWork the option of new cash in the first half of 2019. The warrant automatically converts to stock in September at a price that gives WeWork a valuation of around billion — provided the company doesn't go public or sell in the meantime.

WeWork described the funding as "opportunistic financing" available to the company on attractive terms. Business Insider first reported in June that WeWork was in talks with SoftBank to raise further funding at a billion valuation.

According to third-quarter financials seen by Business Insider, WeWork has substantially increased its revenue but its losses have more than tripled.

Here are the key numbers from WeWork's Q3 2019 financials:

  • Revenue: 2.3 million, up from 1 million
  • Net loss: .2 billion, from 2 million
  • Total revenue over the last 12 months: .5 billion.
  • 297,000 occupied desks out of an available 385,000.

WeWork has played up its rapid expansion, with the office sharing firm now present across 83 cities and 24 countries. The firm has made its name by taking over large properties and doing them up in a bright style, then offering flexible co-working spaces ranging from hotdesking to private offices. It is increasingly using its massive cash pile to target bigger enterprise clients, and take on corporate makeovers on behalf of blue-chip firms, as it looks to more sustainable and diverse revenue streams. Enterprise clients now make up 29% of WeWork's user base, according to its investor deck.

The new funding from SoftBank comes after the firm invested in billion in convertible debt in August. SoftBank and its technology investment fund the Vision Fund also invested .4 billion in WeWork in 2019.

The company said it had seen improved occupancy rates, a key metric for investors worried about tenants leaving after a short period and saddling WeWork with expensive lease commitments. The firm said it had seen an 84% occupancy rate, despite adding more desks.






Video: Is coworking really the future? | CNBC Explains

WeWork raises 3 billion from SoftBank, potential valuation of 42 billion
WeWork raises 3 billion from SoftBank, potential valuation of 42 billion images

2019 year
2019 year - WeWork raises 3 billion from SoftBank, potential valuation of 42 billion pictures

WeWork raises 3 billion from SoftBank, potential valuation of 42 billion recommend
WeWork raises 3 billion from SoftBank, potential valuation of 42 billion forecast photo

WeWork raises 3 billion from SoftBank, potential valuation of 42 billion pictures
WeWork raises 3 billion from SoftBank, potential valuation of 42 billion pics

WeWork raises 3 billion from SoftBank, potential valuation of 42 billion WeWork raises 3 billion from SoftBank, potential valuation of 42 billion new photo
WeWork raises 3 billion from SoftBank, potential valuation of 42 billion new pictures

pics WeWork raises 3 billion from SoftBank, potential valuation of 42 billion
photo WeWork raises 3 billion from SoftBank, potential valuation of 42 billion

Watch WeWork raises 3 billion from SoftBank, potential valuation of 42 billion video
Watch WeWork raises 3 billion from SoftBank, potential valuation of 42 billion video

Communication on this topic: WeWork raises 3 billion from SoftBank, potential , wework-raises-3-billion-from-softbank-potential/
Forum on this topic: WeWork raises 3 billion from SoftBank, potential , wework-raises-3-billion-from-softbank-potential/ , wework-raises-3-billion-from-softbank-potential/

Related News


Love Beauty Planet: New Drugstore Eco-Friendly Brand
23 Jaw-Dropping Street Style Looks From Milan Fashion Week
The Only Accessories You Really Need This Summer
Dex4 Watermelon Reviews
How to Lose Belly Fat (for Men)
The Problem with Tiny Houses That No One Talks About
According to Guys, These 8 Things Separate Average Sex from Great Sex
If I Cant Drive, Ill Enjoy the View From the Passenger Seat
Avoiding Food Additives and Chemicals
Workout Routine: How to Start Working Out (After a Break)
How to Convert Hexadecimal to Binary or Decimal
5 Killer Ways To Use A Stability Ball In Your Workout



Date: 11.12.2018, 04:32 / Views: 35533