Adam Neumann

Office sharing company WeWork is looking to raise new funds at a valuation of $35 billion, according to an executive at SoftBank, which is a major WeWork investor.
Rajeev Misra, who runs SoftBank’s $100 billion Vision Fund, said the company would be worth $100 billion within the next few years.
If WeWork manages to secure a new round of investment at that valuation, WeWork would overtake SpaceX and Airbnb to become the second most valuable startup in the world.
WeWork, last said to be valued at $20 billion, is trying to counter talk of overvaluation by pointing to its expansion beyond taking on long-term leases and jazzing up office spaces.
However, some skeptics think WeWork is a jumped up real-estate company.

Property startup WeWork is seeking to raise new funds at a valuation of $35 billion, according to one of its biggest investors.

Rajeev Misra, chief executive of SoftBank’s $100 billion Vision Fund, told the CogX conference in London that WeWork was in the process of raising capital at the newly disclosed valuation, and predicted it would be worth $100 billion in the next few years.

Misra’s comments will raise eyebrows, given WeWork has raised several billion dollars in venture capital to date, another $702 million in its bond market debut, and is burning through cash. WeWork’s most recent fundraise, a Series G round, reportedly valued the company at $20 billion.

A $35 billion valuation would also mean WeWork has overtaken Airbnb and SpaceX to become the second most valuable startup in the world behind Uber.

SoftBank invested $4.4 billion in WeWork in March 2017, some of it through its Vision Fund. The deal valued WeWork at $17 billion at the time, despite some skeptics seeing WeWork as an over-valued real-estate company. WeWork then went on to raise another $760 million in July 2017, which is …read more

Source:: Business Insider

      

(Visited 18 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *