Softbank bets US$300m on WeWork

New Straits Times - - Business -

SAN FRAN­CISCO: Ja­pan’s SoftBank Group Corp has in­vested US$300 mil­lion (RM1.3 bil­lion) in shared-of­fice space com­pany WeWork, the first in­stall­ment of a multi-bil­lion­dol­lar bet. SoftBank has made bold and wide-rang­ing bets in the tech­nol­ogy in­dus­try, in­clud­ing In­dia ride-ser­vice com­pany Ola, fi­nan­cial ser­vices startup SoFi and satel­lite com­mu­ni­ca­tions startup OneWeb. The WeWork in­vest­ment is the first tranche of a much larger fund­ing round that is ex­pected to to­tal about US$3 bil­lion.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.