SoftBank (OTCPK:SFTBF, OTCPK:SFTBY) valued WeWork (WE) at $2.9B as of March 31, based on a discounted cash flow method.
WeWork’s private valuation rose as high as $47B before the failed IPO, which slashed the figure to $7.3B at the end of last year.
Last fall, SoftBank took 80% control of WeWork with a $5B bailout package following the failed IPO.
SoftBank later pulled out of a $3B tender offer, sparking a legal battle with a special committee of WeWork’s board.
Earlier today, SoftBank reported a record $18B annual loss for its Vision Fund with nearly $10B of the total coming from WeWork and Uber.
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