SFTBF - SoftBank Group Corp.

Other OTC - Other OTC Delayed Price. Currency in USD
45.14
+1.64 (+3.77%)
At close: 3:09PM EDT
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Previous Close43.50
Open44.48
Bid0.00 x 0
Ask0.00 x 0
Day's Range42.70 - 45.23
52 Week Range42.53 - 112.50
Volume3,809
Avg. Volume15,912
Market Cap93.211B
Beta (3Y Monthly)2.08
PE Ratio (TTM)3.15
EPS (TTM)14.31
Earnings DateN/A
Forward Dividend & Yield0.40 (0.92%)
Ex-Dividend Date2019-09-27
1y Target Est44.08
Trade prices are not sourced from all markets
  • Exclusive: WeWork considers dramatic valuation cut in IPO
    Reuters

    Exclusive: WeWork considers dramatic valuation cut in IPO

    Were the We Company to press on with the IPO at such a low valuation, it would represent a major turning point in the venture capital industry's growth over the last decade, which has led to the rise of startups such as Uber Technologies Inc, Snap Inc and Airbnb Inc. It would mean that the We Company would be valued at less than the $12.8 billion in equity it has raised since it was founded in 2010, according to data provider Crunchbase.

  • SoftBank Is Said to Boost Stake in Brazilian Fintech Banco Inter
    Bloomberg

    SoftBank Is Said to Boost Stake in Brazilian Fintech Banco Inter

    (Bloomberg) -- SoftBank Group Corp. has agreed to about double its stake in Banco Inter SA, a Brazilian online lender that offers zero-fee products, a person familiar with the transaction said.The Japanese technology giant took an 8.1% stake in Banco Inter in July for about 760 million reais ($186 million). It’s acquiring the additional stake from members of the controlling families of the bank, including parts of the billionaire Menin clan, the person said.Banco Inter Chief Executive Officer Joao Vitor Menin, who holds 5.4% of the lender, isn’t among the sellers, according to the person, who asked not to identified because the information isn’t public. The Menin family founded homebuilder MRV Engenharia e Participacoes SA.SoftBank and Banco Inter declined to comment.Tokyo-based SoftBank is on a multibillion-dollar Latin America deal binge, setting its sights on about 300 targets in the region. It’s already spent more than $1 billion of a $5 billion fund it launched in March to fund technology companies in the region.Banco Inter’s preferred shares have gained more than 500% since the bank went public, among the region’s best-performing IPOs, according to data compiled by Bloomberg.The company, which started as a real estate-focused bank, reinvented itself as an online lender, offering accounts and zero-fee products while also selling investment and brokerage services.\--With assistance from Vinícius Andrade.To contact the reporter on this story: Felipe Marques in Sao Paulo at fmarques10@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Tony Czuczka, James LuddenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    WeWork looks at curbs on co-founder’s voting power in attempt to save IPO

    WeWork’s executives, investors and advisers are discussing curbing the voting power of co-founder Adam Neumann and removing his wife Rebekah from a role in succession planning, in an attempt to save the company’s initial public offering. People familiar with the talks said changing the terms of Mr Neumann’s supervoting rights, which give him 20 times the voting power of ordinary shareholders, was among the measures under consideration in an effort to win over sceptical investors. Another possible change is taking Mrs Neumann out of an unusual role in helping select a future chief executive should Mr Neumann die.

  • WeWork’s Adam Neumann Is in the Race of His Life as His Fortune Sinks With the IPO
    Bloomberg

    WeWork’s Adam Neumann Is in the Race of His Life as His Fortune Sinks With the IPO

    (Bloomberg) -- First, WeWork hit London. Then, Boston. Then, Toronto.Over the past six days, WeWork executives have raced from city to city in an attempt to win over increasingly skeptical investors.But by the time the company’s Gulfstream G-6 touched down outside New York late Tuesday night, the grandiose ambitions of Adam Neumann, the company’s brash co-founder and pitchman, remained poised on a knife’s edge. His own fortune, while still enviable, was rapidly slipping away.With WeWork’s valuation plummeting, anxiety is growing about when, how or even whether the hipster office-rental company should go public, with even its own bankers unnerved. In question, too, is where this now leaves other fast-growing, money-burning companies – the so-called unicorns.Rarely has the view from the corner office been so at odds with the view from the marketplace. WeWork’s predicament has exposed the yawning gap between what private investors think a young company might be worth and what that company might actually fetch in the stock market.Neumann, who over the years helped WeWork raise more than $12 billion while never turning a dime of profit, is said to be pressing ahead with plans for an initial public offering while simultaneously hunting for still more private capital.At the same time, WeWork is considering changing various corporate governance practices, according to people with knowledge of the situation.Staff MeetingWith so much up in the air, WeWork planned to hold a town hall-style meeting for employees at its New York headquarters on Thursday. But executives called off the event, citing scheduling conflicts, according to a person with knowledge of the matter.Both of its lead financial advisers -- JPMorgan Chase & Co. and Goldman Sachs Group Inc. -- have concerns about proceeding with an IPO that could value the company as low as $15 billion, the people said, asking not to be identified because the talks are confidential. That’s set off a push to make the public sale more palatable to potential investors with governance reforms.Any decision ultimately rests with Neumann, who maintains voting control through a three-class share structure and has been an adamant proponent of the IPO, the people said.He also has been criticized for borrowing the firm’s money, leasing properties he owns back to the company and selling chunks of equity ahead of the planned IPO. The firm rents space in four buildings owned by Neumann, according to the prospectus. It signed a lease on three of them the day he obtained his stake, and committed to being a tenant in them within the next year.Lackluster DebutsSuch disclosures -- and the billions of dollars of losses the firm has racked up in recent years -- increased unease among investors already frustrated by the lackluster market debuts of Silicon Valley darlings such as Uber Technologies Inc.Until recently, Neumann was poised to become one of the world’s richest entrepreneurs. Earlier this year, more than a decade after he launched WeWork, some bankers were privately touting a valuation as high as $65 billion. That would have pegged Neumann’s current 22% stake at $14 billion, catapulting him into the ranks of the world’s 150 richest people.Now, based on more recent valuations, Neumann’s stake might be worth as little as $3 billion – not enough for a listing in the 500-member Bloomberg Billionaires Index.Still, that’s nothing to sneeze at, particularly for someone who spent part of his childhood on a kibbutz. Neumann moved to New York from Israel in 2001 to have fun and make a lot of money, as he put it in a commencement address at Baruch College, his alma mater. Then he met Rebekah, his future wife, who’s listed in a prospectus as a co-founder, chief brand and impact officer, and a “strategic thought partner.”SoftBank StakesThe stakes are even higher for SoftBank, WeWork’s largest investor, which added to its stake in January at a $47 billion valuation. WeWork needs to raise at least $3 billion through an IPO to tap into an additional $6 billion credit line that bankers have been setting up in recent weeks. The facility requires the company to carry out its offering by Dec. 31, one of the people said.The goal is to conclude a roadshow and price the offering before Rosh Hashana, one of the people said, effectively setting a deadline of Sept. 27. Getting it done beforehand would allow Neumann, 40, to avoid using technology and observe the holiday in compliance with Jewish orthodoxy.It’s unclear what changes WeWork may make to its governance to improve interest in its IPO. The company already has taken some steps, such as adding a woman to its board and having Neumann return $5.9 million of partnership interests initially granted to him as compensation for trademarks used in a rebranding. Yet its prospectus last month raised a variety of other concerns. Among them: The company paid Neumann rent and lent him money. There’s also his voting rights over major decisions.A spokesman for WeWork declined to comment.Rents SpaceWeWork, which owns or leases offices and then rents space to companies that typically have shorter-term needs, released a preliminary prospectus last month showing the firm had racked up billions in losses and was burning cash. It lost $690 million in this year’s first half, bringing total losses to almost $3 billion in the past three years.The company had planned to hold a formal roadshow to promote the offering as soon as this week.Early this year, Goldman Sachs privately suggested to people close to WeWork that its valuation could rise to $65 billion after going public. Advisers estimate it may achieve less than a third of that under current conditions.Meanwhile, SoftBank’s hefty investment in WeWork adds to pressure on Wall Street dealmakers to ensure any public offering doesn’t go awry. SoftBank’s Vision Fund owns stakes in a vast array of technology ventures, giving the firm clout in deciding which investment banks are hired for future fundraisings. It has pressed WeWork to postpone the stock offering, according to people with knowledge of the talks.The Vision Fund invested in WeWork at about a $20 billion valuation in early 2017, while SoftBank Group kept pouring in money. A weak IPO could hurt the value of the fund’s stake just as SoftBank tries to persuade customers to bankroll a second $108 billion iteration of the investment vehicle.(Updates to say meeting was canceled in eighth paragraph.)\--With assistance from Liana Baker, Sonali Basak, Sophie Alexander and Tom Metcalf.To contact the reporters on this story: Michelle F. Davis in New York at mdavis194@bloomberg.net;Gillian Tan in New York at gtan129@bloomberg.net;Sridhar Natarajan in New York at snatarajan15@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, ;Alan Goldstein at agoldstein5@bloomberg.net, ;David Gillen at dgillen3@bloomberg.net, David Scheer, Dan ReichlFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Guardant Health May Be Unlikely Victim of WeWork Valuation Woes
    Bloomberg

    Guardant Health May Be Unlikely Victim of WeWork Valuation Woes

    (Bloomberg) -- WeWork’s contentious initial public offering may be hitting another key SoftBank investment: Guardant Health Inc.Guardant’s stock dropped as much as 7.8% Wednesday amid reports that SoftBank is seeking to postpone WeWork’s IPO on concerns over falling valuations. With Guardant returning more than three times its 2018 offering price of $19, it may be the best bet for SoftBank’s Vision Fund to raise cash.WeWork needs to raise at least $3 billion through an IPO to tap into an additional $6 billion credit line that bankers have been setting up in recent weeks. According to a Financial Times report in May, the Softbank Vision Fund was looking to use stakes in Guardant, Uber Technologies Inc. and Slack Technologies Inc. as collateral for a $4 billion loan.The fund is Guardant’s largest holder with a nearly 30% stake, according to data compiled by Bloomberg. The companies are in a joint venture to speed up commercialization of Guardant’s cancer tests across Asia, the Middle East and Africa. Guardant and SoftBank did not immediately respond to requests for comment.To contact the reporters on this story: Cristin Flanagan in New York at cflanagan1@bloomberg.net;Joshua Fineman in New York at jfineman@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Steven Fromm, Mark MilianFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • WeWork Mulls Governance Changes To Save IPO
    Bloomberg

    WeWork Mulls Governance Changes To Save IPO

    (Bloomberg) -- WeWork is considering major changes to governance to assuage investor concerns ahead of an initial public offering this month that’s even given pause to some of its own bankers, according to people with knowledge of the situation.Both of its lead financial advisers -- JPMorgan Chase & Co. and Goldman Sachs Group Inc. -- have concerns about proceeding with an IPO that could value the company as low as $15 billion, the people said, asking not to be identified because the talks are confidential. That’s set off a push to make the public sale more palatable to potential investors with governance reforms.Any decision ultimately rests with the venture’s co-founder and chief executive officer, Adam Neumann, who maintains voting control through a three-class share structure and has been an adamant proponent of the IPO, the people said.The stakes are high for the money-losing venture and backers including SoftBank, its largest investor, which added to its stake in January at a $47 billion valuation. WeWork needs to raise at least $3 billion through an IPO to tap into an additional $6 billion credit line that bankers have been setting up in recent weeks. The facility requires the company to carry out its offering by Dec. 31, one of the people said.The goal is to conclude a roadshow and price the offering before Rosh Hashana, one of the people said, effectively setting a deadline of Sept. 27. Getting it done beforehand would allow Neumann, 40, to avoid using technology and observe the holiday in compliance with Jewish orthodoxy. The company could also have to compete for investor interest with home-fitness startup Peloton Interactive Inc., which is set to kick off its roadshow, also being led by Goldman Sachs and JPMorgan.It’s unclear what changes WeWork may make to its governance to improve interest in its IPO. The company already has taken some steps, such as adding a woman to its board and having Neumann return $5.9 million of partnership interests initially granted to him as compensation for trademarks used in a rebranding. Yet its prospectus last month raised a variety of other concerns. Among them: The company paid Neumann rent and lent him money. There’s also his voting rights over major decisions.A spokesman for WeWork declined to comment.“Adam’s voting control will limit the ability of other stockholders to influence corporate activities and, as a result, we may take actions that stockholders other than Adam do not view as beneficial,” the prospectus warns. WeWork’s triple-class share structure ensures Neumann has an undisputed grip on the company’s decisions. The company’s B and C class shares have 20 votes each, compared to the one-vote Class A shares.WeWork, which owns or leases offices and then rents space to companies that typically have shorter-term needs, released a preliminary prospectus last month showing the firm had racked up billions in losses and was burning cash. It lost $690 million in this year’s first half, bringing total losses to almost $3 billion in the past three years.The company had planned to hold a formal roadshow to promote the offering as soon as this week, Bloomberg reported last week. But scrutiny of the firm’s finances and governance, as well as broader market turmoil, have taken a toll on investor enthusiasm. Early this year, Goldman Sachs privately suggested to people close to WeWork that its valuation could rise to $65 billion after going public. Advisers estimate it may achieve less than a third of that under current conditions.Since Thursday, WeWork executives have met in London, Boston and Toronto with investors who could potentially participate in an IPO or alternatively help provide capital privately, according to a person with knowledge of those gatherings. And in recent days, bankers handling the IPO have encouraged the company to proceed with the sale, the person said.Meanwhile, SoftBank’s hefty investment in WeWork adds to pressure on Wall Street dealmakers to ensure any public offering doesn’t go awry. SoftBank’s Vision Fund owns stakes in a vast array of technology ventures, giving the firm clout in deciding which investment banks are hired for future fundraisings. It has pressed WeWork to postpone the stock offering, according to people with knowledge of the talks.The Vision Fund invested in WeWork at about a $20 billion valuation in early 2017, while SoftBank Group kept pouring in money. A weak IPO could hurt the value of the fund’s stake just as SoftBank tries to persuade customers to bankroll a second $108 billion iteration of the investment vehicle.(Updates with details on Neumann voting control and Peloton IPO plans starting in fifth paragraph.)\--With assistance from Liana Baker, Sonali Basak and Ellen Huet.To contact the reporters on this story: Michelle F. Davis in New York at mdavis194@bloomberg.net;Gillian Tan in New York at gtan129@bloomberg.net;Sridhar Natarajan in New York at snatarajan15@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, ;Alan Goldstein at agoldstein5@bloomberg.net, Daniel TaubFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bloomberg

    SoftBank and WeWork Are as Bad as Each Other

    (Bloomberg Opinion) -- SoftBank Group Corp. is having second thoughts about whether WeWork Cos. Inc. should go public just yet. Having valued the heavily loss-making office space provider at as much as $47 billion, Masayoshi Son’s affiliates are doubtless reluctant to write down their more than $10 billion investment — something they’d have to consider once there’s an observable price for the shares.WeWork, though, is apparently determined to press ahead with the listing in defiance of its chief benefactor, Reuters reports. Either way, SoftBank and its $100 billion Vision Fund will have to face reality one day. By writing an 11-figure check to a startup with no discernible path to profitability, Son may turn out to be the Victor Frankenstein of the cheap-money era. He’s helped create a monster that could do him serious harm.Boil things down and WeWork is a leveraged real estate company propped up by a leveraged pool of late-stage venture capital (the Vision Fund), which is in turn controlled by a leveraged telecoms and technology company (SoftBank). And the unfortunate similarities between SoftBank and WeWork go well beyond their fondness for debt: In governance, philosophy and leadership, the two companies are peas in a pod.WeWork critics chortle at its promise to “elevate the world’s consciousness,” but is that really so different from Son’s mission to deliver “happiness for everyone”? Both companies depend on their visionary leaders (something boring auditors call “key person risk”), whose power is all but unconstrained. Adam Neumann’s majority voting rights as founder, chairman and chief executive officer of WeWork give him the freedom to hire and fire board members. The Vision Fund’s investments are chewed over by various staff and committees, but ultimately Son’s decision is what counts. Not content with raising one enormous venture capital fund, Son is raising another of similar size before we know whether the first has been an enduring success. Neumann, for his part, is demanding that IPO investors pony up $3 billion before his real estate company has been tested by a serious recession. Both men like to make big bets, often with other people’s money.There are other echoes between the two on how they report their finances. SoftBank’s earnings might be flattered by so-called “fair value” gains on its investments, even though some of these unrealized paper profits could turn out to be the wishful thinking of bubbly private markets. WeWork doesn’t have any earnings but tries to make it seem like it does by adding back basic expenses to arrive at a so-called “contribution margin.”WeWork’s Byzantine corporate structure is rivaled too by SoftBank’s, something that’s reflected in the often yawning gap between the value the Japanese group ascribes to its various holdings and its market capitalization. Neumann bought properties and rented them to WeWork, then got his company to pay him for inventing the trademark “We.” SoftBank, for its part, has no qualms about lending up to $20 billion to senior executives so they can buy into the second Vision Fund. It has also bought assets before shifting them on to the Vision Fund.In fairness, WeWork only received its first investment from SoftBank in 2017, so Son is hardly to blame for the many peculiarities disclosed in the real estate firm’s prospectus. But, as my colleague Shira Ovide has argued, WeWork is what happens when you take startup and financial mania to extremes. SoftBank has been both its inspiration and chief enabler. The Japanese investor has provided the bulk of WeWork’s growth capital, and SoftBank affiliates now own about 29% of the office provider.WeWork is now faced with a difficult choice: Go ahead with the IPO and disappoint Son potentially, or delay and fill the hole in its finances by other means (including debt tied to the equity increase, the IPO was set to deliver at least $9 billion in new funding).There’s another option, of course, but it probably sounds like heresy to Son and Neumann, who are both about changing the world in a hurry, cash burn be damned. They could scale back the spending spree, focus on profitable growth, and adopt governance norms that investors can get comfortable with. Now that would be revolutionary.To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Exclusive: Grab in talks to merge Indonesian payment firms to overtake Gojek - sources
    Reuters

    Exclusive: Grab in talks to merge Indonesian payment firms to overtake Gojek - sources

    SoftBank-backed ride hailer Grab is in talks to merge OVO, an Indonesian digital payments firm in which it owns shares, with an Ant Financial-backed local peer to build heft and power ahead of archrival Gojek, people familiar with the matter said. A deal would see Singapore-based Grab buy a majority interest in Ant-backed DANA from Indonesian media conglomerate Elang Mahkota Teknologi (Emtek) and merge it with OVO, they said. It could help OVO-DANA dominate Gojek in Indonesia's multi-billion dollar online payments market.

  • SoftBank Pushes WeWork to Postpone Its Contentious IPO
    Bloomberg

    SoftBank Pushes WeWork to Postpone Its Contentious IPO

    (Bloomberg) -- Executives of WeWork and its largest investor, SoftBank, are discussing whether to shelve plans for an initial public offering of the money-losing co-working company, said people with knowledge of the talks.SoftBank is pressing WeWork to postpone the stock offering after investors expressed serious concerns about the business and its corporate governance, said the people, who asked not to be identified because the discussions are private. WeWork, which owns or leases office space and then rents it to companies typically needing short-term space, had planned to hold a roadshow to promote the offering as soon as this week, an executive told analysts last week. Representatives for SoftBank and We Co., the parent of WeWork, declined to comment.In the span of a few months, WeWork has gone from one of America’s most valuable unicorn startups to a punchline in investment circles. Early this year, Goldman Sachs Group Inc. pitched WeWork as a $65 billion business.But when the company filed a preliminary prospectus last month it revealed the company had racked up billions in losses, was burning cash and had an arcane corporate structure riddled with potential conflicts. In just the first six months of 2019, WeWork lost $690 million, bringing its total losses to almost $3 billion in the past three years, the filing showed. Now WeWork advisers are estimating the company is worth less than a third of Goldman’s figure.SoftBank StakeSoftBank Group Corp. and its affiliates hold about 29% of WeWork stock, Bloomberg reported last week. That’s even more than co-founder and Chief Executive Officer Adam Neumann, though he maintains effective voting control through a three-class share structure.SoftBank has invested a total of about $10.65 billion into the New York-based company, but that has been at a range of valuations. SoftBank’s Vision Fund invested just once at about a $20 billion valuation in early 2017, while SoftBank Group kept pouring money into WeWork, most recently in January at a $47 billion valuation.The WeWork IPO comes at a critical time for SoftBank, which is currently trying to convince investors to bankroll a second $108 billion iteration of its Vision Fund. A sputtering IPO with a possible drop in the value of SoftBank’s stake could complicate the current fundraising effort.An IPO at a $15 billion valuation would result in a $4 billion writedown for the Japanese conglomerate and a $5 billion loss from the latest reported fair value for the Vision Fund, while a debut at $25 billion isn’t likely to result in losses, Chris Lane, an analyst at Sanford C. Bernstein & Co., wrote in a report. Lane estimates that WeWork is worth about $24 billion, with SoftBank holding a roughly 31% stake.“If correct this would not imply significant losses on the investment made to date, but would still be a blow to an investment team which is targeting a 40% annual IRR,” Lane wrote. “With investor concern regarding the mid-to-near term outlook for the global economy the timing for this IPO isn’t ideal.”WeWork needs $7.2 billion over the next four years to see the company through its cashflow negative period, but the total cash needs swell to $9.8 billion if there is a recession in 2022, Lane wrote. Despite the investor concerns, Bernstein remains upbeat on WeWork’s long-term growth prospects and sees it as “fundamentally an attractive business.”SoftBank’s shares rose as much as 4.3% in Tokyo on Tuesday, while the Nikkei 225 stock average was little changed. The Financial Times reported on SoftBank’s position earlier Monday.Neumann has been the subject of scrutiny from investors over disclosures in WeWork’s IPO paperwork. The company paid Neumann rent and spent $5.9 million to acquire a trademark he owned, as it lent him money. In recent months, WeWork has sought to address some of its governance issues, including by adding a woman to its board.Credit RequirementWeWork has lined up a $6 billion credit line that is contingent on it raising at least $3 billion in an IPO, according to its prospectus.The company is already considering additional financing. WeWork is planning to rely on junk bonds for funding for the foreseeable future, a company executive said in a meeting with analysts, according to a person familiar with the matter.The executive said WeWork could also explore whole-business securitizations, or the practice of pledging royalties, fees, intellectual property and other key assets as collateral, the person said. Those types of bonds are becoming more popular. They may enable companies with riskier ratings to improve their credit by cutting financing costs and issuing higher-quality bonds.(Updates with context of IPO timing on Vision Fund in seventh paragraph)\--With assistance from Ed Hammond, Gillian Tan and Pavel Alpeyev.To contact the reporters on this story: Sarah McBride in San Francisco at smcbride24@bloomberg.net;Ellen Huet in San Francisco at ehuet4@bloomberg.netTo contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, ;Liana Baker at lbaker75@bloomberg.net, Michael Hytha, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • WeWork presses on with IPO, pushing SoftBank into a corner
    Reuters

    WeWork presses on with IPO, pushing SoftBank into a corner

    The We Company, WeWork's parent, may seek a valuation as low as $15 billion to $18 billion in an initial public offering, down from the $47 billion value it commanded in the last private fundraising round in January, one source familiar with the situation said. Sources familiar with the situation cautioned that no final decisions have yet been made and the plans around valuation and timing of the IPO are all still subject to change. SoftBank declined to comment.

  • Reuters

    SoftBank in talks to invest in Latam venture capital funds -sources

    Japan's SoftBank Group Corp is in talks with venture capital firms in Latin America to invest hundreds of millions of dollars in their funds, a move likely to speed up spending of a $5 billion regional venture capital fund, three sources with knowledge of the matter said. The strategy will position SoftBank closer to startups that may eventually grow big enough to receive the group's direct investments.

  • Financial Times

    SoftBank/WeWork: down round disconnect

    WeWork exemplifies the soaring ambition and crucial weakness of SoftBank. The Japanese tech investor, which hopes to postpone the listing of the flexible office space company, is the largest outside shareholder. Bulls say SoftBank’s investments of $10.7bn in WeWork affirm the transforming power of startups.

  • TheStreet.com

    iPhone 11, Google, WeWork, Ford and GameStop - 5 Things You Must Know

    U.S. stock futures decline as investors assess weaker-than-expected industrial data from China; new iPhones, new Apple Watches and pricing details on services are expected at Apple's 'By Innovation Only' event on Tuesday; the antitrust probe of Google launched by 50 attorneys general is likely to focus heavily on the search giant's advertising practices.

  • Financial Times

    WeWork bonds tumble as fears for IPO grow

    WeWork bonds tumbled on Tuesday after the Financial Times reported that the unprofitable property company was facing pressure from SoftBank, its largest outside shareholder, to pull its initial public offering after getting a cool reception from public market investors. Prices for the bonds, which WeWork sold last year, had surged above the 100 cent mark on the dollar last month after the company unveiled its IPO plan and a new $6bn debt facility, providing much needed financing into a company that is currently heavily lossmaking.

  • Softbank to buy at least $750m of We Co. shares in IPO: WSJ
    Yahoo Finance Video

    Softbank to buy at least $750m of We Co. shares in IPO: WSJ

    The Wall Street Journal reported Softbank will buy at least $750 million of We Company Shares in its upcoming IPO. This comes as the WeWork parent company is making big changes to save its IPO. Yahoo Finance’s Myles Udland, Jen Rogers and Brian Sozzi discuss on The Final Round.

  • WeWork reportedly looking for IPO week of Sept. 23
    Yahoo Finance Video

    WeWork reportedly looking for IPO week of Sept. 23

    WeWork's IPO plans continue to move forward as it makes corporate governance changes as investors expressed concern over the current structure. Among the changes being made by The We Company is a restructuring of its super voting shares, as well as how the successor to its chief executive Adam Neumann would be named. Yahoo Finance's Brian Sozzi, Alexis Christoforous and Emily McCormick discuss.

  • WeWork Doesn't Have Prospect of Making Money: Technomy CEO
    Bloomberg

    WeWork Doesn't Have Prospect of Making Money: Technomy CEO

    Sep.11 -- David Kirkpatrick, founder of Techonomy Media, talks about the planned initial public offering of WeWork, a space-sharing real estate firm. WeWork is considering major changes to governance to assuage investor concerns ahead of an IPO this month that’s even given pause to some of its own bankers, according to people with knowledge of the situation. Kirkpatrick speaks on "Bloomberg Daybreak: Australia."

  • Softbank contradicts WeWork, marring the company's upcoming IPO
    Yahoo Finance Video

    Softbank contradicts WeWork, marring the company's upcoming IPO

    Yahoo Finance's Jennifer Rogers, Myles Udland, and Heidi Chung discuss WeWork, which is dodging conflicting reports regarding its upcoming IPO.

  • WeWork should go public at a discount: Strategist
    Yahoo Finance Video

    WeWork should go public at a discount: Strategist

    WeWork gets pushback on its valuation ahead of its IPO. Yahoo Finance's Julie Hyman, Adam Shapiro, Rick Newman, Jim Awad - Clearstead Advisors Senior Managing Director, and Kathleen Smith - Renaissance Capital, Manager of IPO ETF, discuss.

  • Will WeWork hit the pause button on its IPO plan?
    Yahoo Finance Video

    Will WeWork hit the pause button on its IPO plan?

    WeWork is under criticism for its high valuation. Yahoo Finance's Julie Hyman, Adam Shapiro, Emily McCormick, Rick Newman, and Jeff Mills - Bryn Mawr Trust Wealth Management Chief investment officer, discuss.

  • WeCompany is going forward with IPO despite concerns from SoftBank : RPT
    Yahoo Finance Video

    WeCompany is going forward with IPO despite concerns from SoftBank : RPT

    WeCompany is reportedly going to go public, despite SoftBank, which has a 29% stake in the rental company, asking it to shelf its IPO for now. Yahoo Finance's Dan Roberts, Scott Gamm and Anjalee Khemlani discuss.

  • WeWork IPO valuation likely below $20 billion
    Reuters Videos

    WeWork IPO valuation likely below $20 billion

    Enthusiasm seems to be plummeting for WeWork's planned public offering. A source tells Reuters the office-sharing startup's parent company is considering slashing the valuation from a projected $47 billion to as low as $15 to $18 billion. However, another source told Reuters the valuation was unlikely to be quite as low as that. The We Company - which is expected to begin its roadshow as soon as this week - rents out workspace to clients under short-term contracts and pays rent for the properties under long-term leases. Meanwhile, Softbank, the We Company's biggest outside investor, is urging the money-losing start-up to put We Work's IPO on hold, due to underwhelming investor appetite, according to the Financial Times. SoftBank may be simply hoping to avoid getting burned on another lackluster IPO. It backed both Uber and Slack. Shares in both firms dropped significantly after their offerings.

  • WeWork reportedly urged to push back IPO by Softbank
    Yahoo Finance Video

    WeWork reportedly urged to push back IPO by Softbank

    Softbank reportedly wants WeWork to hold off its initial public offering over featr that its valuation will drop. Meanwhile, the office rental company was planning to promote going public as soon as next week. Yahoo Finance's Editor-in-Chief Andy Serwer, Alexis Christoforous and Brian Sozzi discuss on The First Trade.