WeWork's value plummeted more than 80% to below $5 billion last quarter, SoftBank says
In a footnote, the fund's managers pegged WeWork's value at under $5 billion. That figure excludes SoftBank's accelerated $1.
5 billion investment and Vision Fund I's exchange of its interests in all regional joint ventures outside of Japan for shares in WeWork at $11.60 a share.Vision Fund I posted an $8.8 billion investment loss last quarter, the presentation showed. The fund more than halved the estimated value of its $4.3 billion investment in WeWork to $2.1 billion as of the end of September.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SoftBank sees recovery for SoftBank after losses on WeWork and Uber - Business InsiderSoftBank has taken serious heat for its WeWork and Uber losses — but one Wall Street analyst says the company will recover from here
Read more »
SoftBank's latest valuation of WeWork is lower than previously thought — at under $5 billionThe managers of SoftBank's $100 billion Vision Fund slashed their pre-bailout valuation of WeWork by 83% in the space of three months.
Read more »
How SoftBank says it’ll fix WeWork and turn it profitableSoftBank founder Masayoshi Son said turning around WeWork would be “simple.”
Read more »
SoftBank Founder Calls His Judgment ‘Really Bad’ After $4.7 Billion WeWork Hit“I regret it in many ways,” Chief Executive Masayoshi Son said of the investment, after SoftBank marked down the total value of WeWork’s equity to $7.8 billion.
Read more »
Stung by WeWork, SoftBank boss Son charts more cautious IPO courseFresh from the WeWork debacle, SoftBank CEO Masayoshi Son says he now aims to be...
Read more »
After WeWork, SoftBank Needs to Soften its AmbitionsHeard on the Street: SoftBank Chairman Masayoshi Son’s erratic investment style has certainly caused him some pain lately, says jackycwong
Read more »