SoftBank invests $300 million (£240 million) in shared-office startup, say sources

SoftBank Group Corp has invested $300 million (£240 million) in shared-office space company WeWork, the first instalment of a multi-billion-dollar bet, according to a source familiar with the matter.

SoftBank, the Japanese telecommunications and internet company, has made bold and wide-ranging bets in the technology industry, including India ride-service company Ola, San Francisco-based financial services startup SoFi and Virginia-based satellite communications startup OneWeb.

The WeWork investment is just the first tranche of a much larger funding round that is expected to total about $3 billion (£2.40 billion), according to the person familiar with the matter, who spoke on condition of anonymity.