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Startups

SoftBank plans to pump $5bn into WeWork

Japanese investor will not take a majority stake

WeWork's parent company is expected to choose soon between rival $5 billion funding offers from SoftBank Group and JPMorgan Chase.   © Reuters

TOKYO -- SoftBank Group will offer around $5 billion in financing to the parent of office-sharing unicorn WeWork as the loss-making company scrambles for cash, Nikkei learned Wednesday.

SoftBank will officially propose the plan to the We Company soon. The additional investment will come directly from the Japanese group rather than its roughly $100 billion Vision Fund.

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