SoftBank’s bad year goes well beyond WeWork. Investors are starting to get the feeling that whatever Masayoshi Son brings to the public is troubled.
Masayoshi Son struck a defiant tone after his SoftBank Group reported an enormous loss from investments in money-losing startups WeWork and Uber Technologies.
WeWork is considering a bailout that will hand control of the co-working giant to SoftBank Group, according to a person familiar with the matter.
WeWork’s plan to go public, in one of the largest stock offerings of the year, has hit a wall. Now the company will see whether sacrificing its divisive leader can save a crucial fundraising effort.
As WeWork continues its stumble to the public markets, some prognosticators see this moment as something more significant: that a WeWork belly-flop portends the end of the unicorn era in Silicon Valley.