Proliferating spirals drive a community mad in classic horror manga Uzumaki. SoftBank boss Masayoshi Son should take note. WeWork, a favoured investment of the Japanese tech group, is spiralling towards destruction. SoftBank has swooped in with a bailout valuing the equity of the US flexible offices business at $8bn, compared with $47bn in a recent financing. That’s one hell of a “down round” and stands to leave SoftBank, a company with a risky financial structure, spinning in ever-decreasing circles too.
在經典恐怖漫畫《漩渦》(Uzumaki)中,不斷擴散的螺旋圖紋令一個小鎮陷入瘋狂。軟銀(SoftBank)老板孫正義(Masayoshi Son)要當心了。這家日本科技集團青睞的一個投資目標WeWork正盤旋著朝毀滅的方向滑去。軟銀出手為其紓困,將這家美國靈活辦公企業的股權估值為80億美元,相比之下,WeWork在最近一次融資中估值是470億美元。這絕對是一次“折價融資”(down round),并可能讓具有高風險財務結構的軟銀也陷入不斷下滑的漩渦中。