WeWork’s value plummeted more than 80% to below $5 billion last quarter, SoftBank says
|11/08/2019||Posted by BusinessMediaguide.Com under General World News||
- SoftBank slashed its pre-bailout valuation of WeWork by 83% in three months to $4.9 billion, according to an investor presentation dated for release on Friday.
- SoftBank Investment Advisors, which manages the Japanese conglomerate’s $100 billion Vision Fund I, cut WeWork’s valuation by 74% even after accounting for parts of SoftBank’s rescue deal, from $29.6 billion on June 30 to $7.8 billion on September 30.
- Vision Fund I posted an $8.8 billion investment loss last quarter.
- of Business Insider’s WeWork coverage here.