SoftBank looks to buy WeWork in a massive deal worth up to $30 billion

50e1d1414b51b114a6d18474c5213763143ad9e4545172487527

50e1d1414b51b114a6d18474c5213763143ad9e4545172487527

Startup Tech News by Content Engine AI

SoftBank is reportedly readying a swoop on WeWork, the New York-based co-working company, in a deal that could value the firm at $30 billion or more.

WeWork, founded in 2014, operates in 70 cities in 10 countries around the world. It now has over 100,000 members. A late-2016 initial public offering in New York valued WeWork at $15 billion. SoftBank, which owns many popular smartphone chip maker Nvidia, would pay for its deal with SoftBank Robotics, a unit of the tech giant’s robotics firm, Aldebaran Robotics. Aldebaran operates a robot-assisted packing and shipping center in Singapore and has a partnership with UPS.

The press release allegedly sent by SoftBank Robotics to tech journalists indicates that WeWork’s parent, WeWork Property Group, is “inviting other stakeholders to participate” in SoftBank’s deal, which would allow WeWork to sell its stake.

Some of SoftBank’s other ventures include Virgin Hyperloop One and ARM, the semiconductor firm it acquired from Intel last year.

WeWork wasn’t immediately available for comment. SoftBank declined to comment.

Content Engine

Read Previous

Gimlet CEO Jason Mozica takes big tech meetups to bigger things

Read Next

Siemer Ventures starts VCXC1 program to invest in 100 new start-ups every year

Leave a Reply

Your email address will not be published.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