Goldman Sachs Agrees To $1.75B WeWork Credit Line For SoftBank
Goldman Sachs has agreed to put together a $1.75B line of credit for WeWork to replace a previous arrangement that required keeping $500M in cash reserves.
Goldman Sachs has agreed to put together a $1.75B line of credit for WeWork to replace a previous arrangement that required keeping $500M in cash reserves.
On-demand storage specialist Clutter buys some physical assets for the first time.
Indian hotel startup Oyo is backed by billions from SoftBank Vision Fund and is growing at a speed some say is unsustainable. Sound familiar?
SoftBank had previously agreed to bail the coworking firm out after its IPO went south.
SoftBank CEO Masayoshi Son regrets enabling Adam Neumann as WeWork's biggest backer, but says he's got a plan to turn the company he now controls around.
The most recent valuation drop to $2.7B comes after a previous drop from $47B to $7.8B in September.
SoftBank Vision Fund's high-profile missteps with WeWork and Uber have reportedly caused difficulty in attracting investment to Masayoshi Son's follow-up fund.
The Japanese conglomerate is balking at buying $3B of WeWork shares from existing shareholders.
The Japanese conglomerate announced billions of dollars in stock buybacks on Monday.
SoftBank decides to cancel its purchase of $3B in WeWork shares.
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