On October 23, shared office giant WeWork announced a $9.5 billion financing agreement with Softbank. Softbank will hold approximately 80% of WeWork’s shares but has not obtained control.
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Softbank’s $5 billion to save WeWork, is the money thrown back?
On October 23, shared office giant WeWork announced a $9.5 billion financing agreement with Softbank, including $5 billion in new funding and up to $3 billion in existing Shareholders’ share purchase offer, as well as a previously committed $1.5 billion capital injection. Upon completion of the transaction, Softbank will hold approximately 80% of WeWork’s shares but will not gain control.
In terms of personnel changes, Softbank Chief Operating Officer Marcelo Crowley will be appointed as Executive Chairman of WeWork’s Board of Directors, effective after the $1.5 billion capital injection is completed. And WeWork co-founder Adam Neumann will become an observer on the company’s board of directors.
Softbank has been involved in WeWork financing since 2017. According to Reuters statistics, as of now, Softbank has invested more than $13 billion in WeWork. Unfortunately, WeWork did not return Softbank with attractive market value, from the beginning of 2019 to the present…
Editor’s Comments: In addition to WeWork, other large technology companies supported by Softbank, such as Uber and Slack, suffered a sharp fall in stock prices after listing this year. The market has serious doubts about the profitability of such large-scale money-burning projects…
In order to harvest the Chinese market, the localized Tesla also strives to sink.
China is Tesla’s largest overseas market outside the US. In order to harvest the Chinese market, Tesla quit high cold and even began to sink. Since the news that Tesla was going to open a factory in Shanghai last year, Tesla CEO Musk, who rarely received media interviews, opened several interviews with the Chinese media. A public relations official from Tesla China said: “There will be some new changes in the future of external communication, and more active distribution will be carried out.”
In addition to Weibo, the public number, and the vibrato, Tesla recently launched a high-profile high-profile. The fast-touch users are mainly young people in the third- and fourth-tier cities with relatively low income and age. In the environment where the purchasing power of domestic low-tier cities is rapidly rising, the domestic version of Model 3 and Model Y seems to be sinking.Increase sales.
Tesla is not in the Chinese market. August of this year…
Editor’s comment: The author Qiu Xiaofen believes that in China, where the Internet ecology is open, the system is closed and the ecological thinness may be…
This article is from the paid section “Daily Business Featured” – October 23
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