WeWork had also held discussions regarding investments from Uber Technologies. Discussions with Softbank are on-going and there is no certainty that it will result in a deal.
The Wall Street Journal has reported citing sources familiar with the matter at hand that the SoftBank Group Corp is mulling an investment of more than $1 billion in WeWork, an office-space sharing startup.
If the deal sees the light of day, it could be among the first from Softbank’s $100 billion technology fund.
When asked to respond to requests for comments, WeWork and SoftBank declined comment.
Currently, WeWork is valued at almost $17 billion and Softbank’s valuation of the company is set to top that, said WSJ citing sources familiar with the matter at hand.
According to two sources familiar with the matter, SoftBank had earlier discussed investing in WeWork before pulling out.
Sources preferred the cover of anonymity since the talks may potentially not result in an actual deal.
A few SoftBank executives have raised querries regarding Softnank’s valuation, saying the office-space sharing startup is far from the fund’s tech focused investment objectives.
Inidentally, Softbank also held discussions with Uber Technologies Inc. It isn’t clear whether Uber’s investment is in the pipeline.