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.
在经典恐怖漫画《漩涡》(Uzumaki)中，不断扩散的螺旋图纹令一个小镇陷入疯狂。软银(SoftBank)老板孙正义(Masayoshi Son)要当心了。这家日本科技集团青睐的一个投资目标WeWork正盘旋着朝毁灭的方向滑去。软银出手为其纾困，将这家美国灵活办公企业的股权估值为80亿美元，相比之下，WeWork在最近一次融资中估值是470亿美元。这绝对是一次“折价融资”(down round)，并可能让具有高风险财务结构的软银也陷入不断下滑的漩涡中。
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