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Softbank Is Reportedly Considering a $1 Billion Investment in WeWork

January 31, 2017, 12:25 PM UTC
Donald Trump, Masayoshi Son
FILE - In this Tuesday, Dec. 6, 2016, file photo, President-elect Donald Trump, left, accompanied by SoftBank CEO Masayoshi Son, speaks to members of the media at Trump Tower in New York. Trump talked up Japanese mogul Son, who after meeting with the president-elect in New York, spotlighted his plan to invest $50 billion and create 50,000 jobs. (AP Photo/Andrew Harnik, File)
Photograph by Andrew Harnik—AP

SoftBank Group is considering an investment of more than $1 billion in office-space sharing start-up WeWork, the Wall Street Journal reported, citing people familiar with the matter.

The deal could be among the first from SoftBank’s $100 billion technology fund, the WSJ said.

SoftBank and WeWork declined to comment.

WeWork is currently valued at nearly $17 billion and SoftBank’s valuation of the company is expected to be at or above this figure, the WSJ said, citing the sources.

SoftBank (SFTBY) has earlier discussed an investment in WeWork before pulling out, the Journal reported, citing two people familiar with the matter, and added talks may not result in a deal this time.

Some SoftBank executives have raised questions whether the WeWork deal is overvalued, saying a company in the business of office space is far afield from tech-focused investments, the newspaper reported.

SoftBank also recently held discussions with Uber Technologies, though it isn’t clear if an investment is in the pipeline, the WSJ reported.