WeWork is raising $1 billion from SoftBank in a very unusual way

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• WeWork is raising $1 billion in debt from its existing investor SoftBank.
• It's already raised billions of dollars in equity, including $4.4 billion from SoftBank alone.
• WeWork also revealed its financials for the first half of 2018, showing that revenue almost doubled to $712 million.
• Business Insider understands the company is still in talks to raise a new equity round at a $35 billion valuation.

Shared office startup WeWork is raising a further $1 billion in convertible debt from one of its existing investors, SoftBank.

The unusual mechanism gives WeWork an immediate cash injection as it continues to funnel money into expanding its shared office business globally. In an interview with Business Insider, WeWork chief financial officer Artie Minson described the financing as "the ability for us to opportunistically add a billion dollars to the balance sheet." Minson said WeWork had around $4 billion in cash and commitments.See the rest of the story at Business Insider

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