Office sharing company WeWork is looking to raise new funds at a valuation of $35 billion, according to an executive at SoftBank, which is a major WeWork investor.
Rajeev Misra, who runs SoftBank’s $100 billion Vision Fund, said the company would be worth $100 billion within the next few years.
If WeWork manages to secure a new round of investment at that valuation, WeWork would overtake SpaceX and Airbnb to become the second most valuable startup in the world.
WeWork, last said to be valued at $20 billion, is trying to counter talk of overvaluation by pointing to its expansion beyond taking on long-term leases and jazzing up office spaces.
However, some skeptics think WeWork is a jumped up real-estate company.
Property startup WeWork is seeking to raise new funds at a valuation of $35 billion, according to one of its biggest investors.
Rajeev Misra, chief executive of SoftBank’s $100 billion Vision Fund, told the CogX conference in London that WeWork was in the process of raising capital at the newly disclosed valuation, and predicted it would be worth $100 billion in the next few years.
Misra’s comments will raise eyebrows, given WeWork has raised several billion dollars in venture capital to date, another $702 …read more
Source:: Businessinsider – Finance