SoftBank in talks to invest $10b in WeWork

Japan-based SoftBank is in talks to invest a further $10 billion in office space provider WeWork.

The discussions are ongoing, and a deal is not guaranteed.

The Wall Street Journal reported earlier that SoftBank’s investment could be between $15 billion and $20 billion and would likely come from SoftBank’s Vision Fund.

The Vision Fund is a $92 billion technology-focused vehicle that is largely backed by Saudi Arabia and Abu Dhabi wealth funds as well as SoftBank’s own capital.

SoftBank made a previous  $4.4 billion investment into WeWork in August, giving it a 20 percent ownership stake in the company.

WeWork has expanded to 22 countries and is on track to generate more than $2 billion in revenue this year, according to BusinessInsider. However, the company lost hundreds of millions of dollars in the first six months of the year, according to media reports, causing skepticism for the company’s rapid expansions and acquisitions.

SoftBank Group Corp. and a group of investors closed a deal with Uber Technologies earlier this year, making SoftBank the largest stakeholder in Uber.