Reports surfaced today that the investment firm Softbank is about to boost its investment in co-working giant WeWork, but not as much as originally speculated.
According to Reuters, Softbank is boosting its existing investment in WeWork by $2 billion and that this deal could close by the end of this week.
Softbank already invested $9 billion in WeWork, a majority of the $10.6 billion the company has raised total since it was launched in 2010. It is valued at $42 billion, according to a CNN source.
Various media reports suggested earlier this month that Softbank was ready to invest as much as $16 billion in the rapidly growing co-working company which houses numerous startups worldwide. But Softbank confirmed its $2 billion stake plans this morning.