Management difficulty rice “Weekly” Support 1 trillion yen from Softbank G Oct 23rd 12:54
US-based “Weekly”, which has expanded its business in a shared office, has decided to receive 1 trillion yen in financial support from the Softbank Group, which has received investment until now, due to management difficulties. . SOFTBANK was originally supposed to make a profit from the public offering of WEWORK, but on the contrary, it was forced to provide additional support for management reconstruction.
WEWORKS, a shared office that lends offices to companies and private businesses, announced on February 22 that it will receive additional financial support from the SoftBank Group.
According to the agreement, SoftBank will provide additional support to “Wee Company”, which operates WeWork, by purchasing shares from existing shareholders, totaling $ 9.5 billion, and approximately ¥ 1 trillion in Japanese yen.
WeWork expanded from the 10 trillion yen fund created by Softbank to the extent that it has invested over 1 trillion yen so far, with a corporate value of 47 billion dollars in the beginning and 5 trillion yen in Japanese yen Beyond that, if the stock was made public, it was expected that Softbank would bring significant profits.
However, investors pointed out that the management and business were stuck, and according to the American media, corporate value plummeted to around $ 18.0 billion, which is one sixth of the year, and is scheduled for this fall. The public offering was postponed, and even the cash flow was questioned.
President Son “Believe as a pioneering company”
Regarding support for WeWork, President Masayoshi Son of Softbank Group said, “We believe that WeWork is a pioneering company that plays a role in changing the way people work around the world. I decided to double the support with the support above. "