Softbank is to inject $3bn into Wework, the provider of trendy office space, more than doubling its valuation to $45bn, making it the world’s third-largest start-up.
WeWork is now bigger than Airbnb, the accommodation listings service, worth about $31bn, and behind only Uber and Didi Chuxing, the taxi-hailing services, which are worth $72bn and $56bn respectively.
WeWork buys long leases on city offices to create co-working spaces with Instagram-friendly decor, gourmet coffee stations and, until recently, unlimited free beer on tap.
