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Startups

SoftBank's break-even valuation for WeWork seen at $24bn

Drop-off from $47bn signals major blow to Japanese investor

A sign outside a WeWork shared office in New York City.   © Reuters

TOKYO -- The extent of SoftBank Group's exposure to the recent woes at WeWork is the talk of the town, as the U.S. office-sharing startup said Monday that it will officially scrap an initial public offering planned for this month.

SoftBank has pledged to pour over $10 billion into WeWork and its affiliates through infusions directly from the company or from the SoftBank Vision Fund, according to filings released by WeWork parent We Co.

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