(Reuters) – WeWork Cos Inc said on Tuesday it received $2 billion in new funding from Japanese conglomerate SoftBank Group Corp (9984.T) in a deal that values the company at $47 billion.

The company also said in a statement that it plans to run its three distinct businesses under a new name, The We Company.

Its flagship WeWork business rents out office space, WeLive operates residences and WeGrow operates elementary schools and computer coding academies.

Softbank has invested than $10 billion in WeWork since 2017, the company said.

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