Japanese SoftBank Group Corp. is currently in talks to buy a majority stake in the American company WeWork, the Wall Street Journal reported. According to the article, the acquisition would cost somewhere between $15 and $20 billion, which would probably be covered by the bank's VisionFund. SoftBank already bought a 20% stake in WeWork in 2017.
Founded in 2010 in New York, WeWork started providing shared workspaces for entrepreneurs, freelancers, startups, small businesses and large enterprises. The company has launched three separate ventures. WeLive provides rental apartments with shared space, Rise by We is a fitness concept while WeGrow is a private schooling program.
After the SoftBank's investment last year, the valuation of the WeWork reached $20 billion.
