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WeWork is just one facet of SoftBank’s bet on real estate

WeWork is just one facet of SoftBank’s bet on real estate

5 years ago
Anonymous $oIHRkISgaL

https://techcrunch.com/2018/07/29/wework-is-just-one-facet-of-softbanks-bet-on-real-estate/

This week WeWork announced that its Chinese subsidiary — WeWork China — raised an additional $500 million in capital in a deal led by SoftBank, Temasek Holdings and others. The deal reportedly values the Chinese branch of the shared workspace and real estate management company at $5 billion, up from $1 billion (post-money) in the round WeWork China announced almost a year ago in July 2017.

SoftBank rarely doubles down on a particular company. At time of writing, SoftBank itself has made 175 investments in 144 different companies, according to Crunchbase data. Of those, just 23 companies raised more than one round from SoftBank. And in conjunction with its China branch, with four cumulative transactions on record, WeWork is tied for first place in a ranking of companies most-engaged with SoftBank’s investment arm.