TOKYO -- Japan's SoftBank Group has agreed to invest an additional $1 billion in shared-office company WeWork, where SoftBank CEO Masayoshi Son sees the potential for a repeat of his lucrative bet on Alibaba Group Holding.
The funding comes in the form of convertible bonds, according to WeWork. This follows a $4.4 billion investment, announced last year, by SoftBank and the Saudi-backed SoftBank Vision Fund. SoftBank and WeWork have also expanded the co-working business into Japan through a 50-50 joint venture.
