SoftBank on Wednesday said it slashed WeWork's valuation to just $7.8 billion, a fraction of its $47 billion valuation in January.
SoftBank lost at least $4.7 billion by investing in WeWork after the shared-workspace group's IPO collapsed and its valuation plunged from $47 billion in January to below $10 billion. "My own investment judgment was really bad. I regret it in many ways," CEO Masayoshi Son said at a news conference, according to the Wall Street Journal. SoftBank reduced its overall valuation of WeWork to $7.8 billion. Watch SoftBank trade live. SoftBank lost at least $4.
SoftBank lost at least $4.7 billion by investing in WeWork after the shared-workspace group's IPO collapsed and its valuation plunged from $47 billion in January to below $10 billion. "My own investment judgment was really bad. I regret it in many ways," CEO Masayoshi Son said at a news conference, according to the Wall Street Journal. SoftBank reduced its overall valuation of WeWork to $7.8 billion. Watch SoftBank trade live. SoftBank lost at least $4.
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SoftBank Takes Loss of $4.7 Billion on WeWork InvestmentSoftBank marked down the total value of the company’s equity to $7.8 billion and hasn’t factored in its bailout of the office-sharing company.
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SoftBank Founder Calls His Judgment ‘Really Bad’ After $4.7 Billion WeWork Loss“I regret it in many ways,” Chief Executive Masayoshi Son said of the investment, after SoftBank marked down the total value of WeWork’s equity to $7.8 billion.
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SoftBank to tighten governance at start-ups after WeWork debacle: FTSoftBank Group Corp is expected to outline tougher governance standards...
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