SoftBank invests $4.4 billion in WeWork
August 25, 2017 | Bobby Burch
Global coworking giant WeWork recently raked in a massive investment from SoftBank.
The Tokyo-based conglomerate and its $93-billion Vision Fund has injected $4.4 billion into WeWork, which has 23 coworking spaces in the United States — including a shared, 40,000- square-foot workspace in Kansas City in the Crossroads Arts District — and more than 27 international offices.
“WeWork is leveraging the latest technologies and its own proprietary data systems to radically transform the way people work,” SoftBank CEO Masayoshi Son said in a release. “(WeWork CEO Adam Neumann’s) unique vision and talented team have created a sharing platform that offers maximum flexibility and opportunity to creators of all types, from young entrepreneurs to large multinational companies. We are thrilled to support WeWork as they expand across markets and geographies and unleash a new wave of productivity around the world.”
Of the $4.4 billion investment, $3 billion will go toward WeWork’s parent company via a primary investment in new shares and a secondary purchase of existing shares, SoftBank said in a release. The remaining $1.4 billion will fund WeWork’s expansion in China, Japan and Southeast Asia and Korea.
WeWork was valued at $21 billion in July. The firm currently has about 150,000 members across the world.
2017 Startups to Watch
stats here
Related Posts on Startland News
Events Preview: TEDxKC, Powderkeg Pitch Night
There are a plethora of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter, or curious community member — we recommend these upcoming events for you. Are you hosting a relevant community event? Feel free to add it to the FWD/KC calendar for increased exposure. Once your event…
‘Hybrid’ connections key to healthy entrepreneurial ecosystem, researcher says
Social research shows innovation is budding in Kansas City, Karen Stephenson said. “I think that the heartland is where the innovation of the future is coming from,” Dr. Karen Stephenson, a Harvard-educated anthropologist, said. “It doesn’t come from the coasts. When you look at what drives innovation and where a lot of these Silicon Valley…
Fund Me, KC: Brewkery hopes to tap support for healthy Kombucha
Editor’s note: Startland News is continuing its new segment to highlight area entrepreneurs’ efforts to accelerate their businesses. This is an opportunity for entrepreneurs to share their stories to gain a little help from their supporters. If you or your startup is running a crowdfunding campaign, let us know by contacting news@startlandnews.com Who are you?…
Setting global record, more than 200 celebrate KC Coworking Day (with photos)
Coworking hard? Or hardly coworking? That was the question I asked myself amongst a crowd of about 200 local entrepreneurs, artists, government officials, nonprofit workers and community members who gathered Wednesday at the spacious Plexpod: Westport Commons to set the world record for the most people coworking in one place at the same time. As…