Co-working space startup WeWork secures $1.1 bn from SoftBank.
Co-working space startup WeWork has secured $1.1 billion in debt financing from SoftBank. The new financing raises WeWork's available cash and unfunded cash commitments to $4.1 billion. WeWork's second-quarter revenue fell to $882 million compared to its revenue of $1.1 billion in the first quarter. Earlier in July, WeWork had said it expected to have positive cash flow in 2021.