• About
  • Contact
Saturday, January 23, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home News

Current WeWork Valuation Is $2.9 Bn, Way Less Than Estimated $47 Bn

Pritish raj by Pritish raj
May 19, 2020
in News, Startup
2 min read
0
wework valuation-CEO-next-big-brand

wework-next-big-brand-source-wework

Share on FacebookShare on Twitter
  • After years of rejecting all the claims about WeWork ‘s crazy valuation, SoftBank now says the world’s largest co-working space is worth just $2.7 billion

After years of rejecting all the claims about WeWork ‘s crazy valuation, SoftBank now says the world’s largest co-working space is worth just $2.7 billion – a whopping down 94 percent from September’s earlier estimated $47 billion valuations last year. Interestingly, after the IPO fiasco that bought most of the embarrassment from WeWork’s co-founder Adam Numen and Masayoshi Friend, SoftBank spent $10 billion in WeWork bailouts.

Within a few months, though, the table has now turned. The Japanese company SoftBank has used the discounted cash flow approach to determine WeWork ‘s worth.

That unravels the tussle that began from the beginning of 2020 between SoftBank and WeWork management. Last year SoftBank agreed to pump in more capital into the business, practically owning it, to revive WeWork after the failed IPO. As part of the agreement, SoftBank agreed to buy $3 billion in stocks from Adam Neuman, the co-founder, and former WeWork CEO, along with a few other shareholders. The company set the deadline for concluding the deal as April 1, 2020.

At the beginning of 2020, however, Masayoshi Son left everyone shocked by announcing that his company would not be buying WeWork stocks. People who are familiar with the matter have disclosed that following rounds of talks and meetings between WeWork shareholder and SoftBank, Masayoshi Son has seen no interest in investing any more funds in the already troubled WeWork.

Coronavirus’s global outbreak that has resulted in a complete business shutdown worldwide has a significant impact on the real estate industry. Co-working companies are among the most impacted by the pandemic, and despite the present circumstances, the perception of the future is very somber.

WeWork is no exception; Masayoshi Son read the writing on the wall and chose to hold onto WeWork for his further investment.

The decision left stakeholders at WeWork quite baffled, and they sued SoftBank for contract breach.

In comparison, SoftBank is also grappling with its investors’ trembling trust. The Softbank Group announced a loss of 12.5 billion dollars in FY’2020 for the first time in 15 years, ending in March 2020. The much-discussed Vision Fund alone – WeWork is a part of it – has announced a massive $16.5 billion loss. Masayoshi Son surprised with a claim that 15 out of 87 portfolio companies SoftBank has invested in, could go bank corrupt.

Masayoshi Son surprised with a claim that 15 out of 87 portfolio companies SoftBank has invested in, could go bank corrupt.

Previous Post

Google Meet has crossed 50 million downloads Amid Ongoing Lockdown

Next Post

Kevin Mayer Will Join TikTok As New CEO, Set To Leave Walt Disney

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

LifeStyle Video App Trell Starts Social Commerce for its User Base
News

LifeStyle Video App Trell Starts Social Commerce for its User Base

January 22, 2021
Dips and Sauces Maker Wingreens Farms Acquires Natural Beverage Startup Raw Pressery
News

Dips and Sauces Maker Wingreens Farms Acquires Natural Beverage Startup Raw Pressery

January 22, 2021
Cred Founder Kunal Shah Invests in the new Venture of One Plus Co-founder Carl Pie
News

Cred Founder Kunal Shah Invests in the new Venture of One Plus Co-founder Carl Pie

January 21, 2021
SEBI Approved Much Talked Future Group-Reliance Industries Deal
News

SEBI Approved Much Talked Future Group-Reliance Industries Deal

January 21, 2021
Tata Group is All Set to Acquire 60% stake in BigBasket
News

Tata Group is All Set to Acquire 60% stake in BigBasket

January 20, 2021
Chinese Billionaire Jack Ma Suspected Missing after Condemning the Chinese Government.
News

Alibaba Share Surges after Jack Ma’s Resurfacing Video

January 20, 2021
Next Post
Kevin Mayer TikTok CEO Resigns- Next Big Brand

Kevin Mayer Will Join TikTok As New CEO, Set To Leave Walt Disney

Leave a Reply Cancel reply

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

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Deep Kalra - The Man Behind MakeMyTrip's Amazing Journey

Deep Kalra – The Man Behind MakeMyTrip’s Amazing Journey

1 year ago
MTNL Employees- Next Big Brand

MTNL MD Admits Salary Of August Pending, BSNL Facing the Same crisis

1 year ago
Signal-Telegram Downloads Surge in India after WhatsApp’s New Policy Announcement

Signal-Telegram Downloads Surge in India after WhatsApp’s New Policy Announcement

2 weeks ago
girl using smartphone

Mobile Ownership – Economy, Education and Age decide Winners!

2 years ago

FOLLOW US

  • 22.4k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Indigo Paints: Colorful journey of a Lesser Known Paint Brand
  • LifeStyle Video App Trell Starts Social Commerce for its User Base
  • Dips and Sauces Maker Wingreens Farms Acquires Natural Beverage Startup Raw Pressery

Instagram

Follow Me!

Latest News

Indigo Paints: Colorful journey of a Lesser Known Paint Brand

Indigo Paints: Colorful journey of a Lesser Known Paint Brand

January 22, 2021
LifeStyle Video App Trell Starts Social Commerce for its User Base

LifeStyle Video App Trell Starts Social Commerce for its User Base

January 22, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.