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.