office-sharing start-up's majority owner, SoftBank Group Corp, using its connections to buoy its business, people familiar with the matter said on Sunday.
SoftBank is hoping this network of portfolio companies will help its attempted turnaround of WeWork, which it rescued from bankruptcy last year by acquiring majority control. This followed a failed attempt by WeWork to launch an initial public offering in September, which left it starved for cash. The sources did not disclose the value of the contract and requested anonymity because the agreement is private.
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