Deep Nishar, senior handling partner at SoftBank Financial investment Advisers, described the core concept behind WeWork as “very, extremely great” onstage at the DLD conference in Munich on Saturday while acknowledging the company’s governance problems.
SoftBank Financial investment Advisers handles the $100 billion Vision Fund, and the company is one of the biggest shareholders in WeWork.
Asked at DLD about WeWork, Nishar explained the situation as “naturally complex” and noted that the Vision Fund had invested in more than 80 business.
WeWork’s core proposal is to take out long-lasting leases on buildings and fit them up to lease out to larger business or smaller start-ups. The company spiraled to a $47 billion appraisal– one SoftBank executive forecasted a $100 billion valuation— puzzling critics who pointed out that WeWork was no different from any other office-leasing business.
SoftBank eventually took control of the company in October 2019 in a deal that saw WeWork’s valuation plunge to around $8 billion.
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source https://jobsearchtips.net/a-softbank-partner-explained-wework-a-very-very-good-organisation/
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