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Softbank to but at least $750 million in WeWork IPO

Founder and CEO Adam Neumann (Credit: JamelToppin/Forbes)

SoftBank Group plans to buy at least $750 million of the shares in WeWork’s impending IPO that’s expected to raise $3 billion, according to WSJ. This comes on the heels of reports that the co-working company will seek a valuation between $10 to $20 billion.

  • For those keeping track: WeWork has raised more than $10 billion to date, and Softbank’s Masayoshi Son has invested more than $7.1 billion. The fact he allowed Neumann to sell hundreds of millions of dollars of stock and loans of more than $740 million tied to his shares is still shocking. 
  • What to watch this week: There is no guarantee there will be enough overall demand to enable the company to pull off the beleaguered offering. Situation is fluid and investor demand will ultimately tell the story.
  • FlashbackSaudi Arabia’s PIF + Abu Dhabi’s Mubadala nixed the Vision Fund’s proposed $16 billion investment into WeWork last year.
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