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: Find Your Focus to Growing Your Business
There are a boatload of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter, or curious Kansas Citian, we’d recommend these upcoming events for you. WEEKLY EVENT PREVIEW Social Media Club Kansas City: October Breakfast When: October 7 @ 7:30 am – 9:00 am Where: Grand Street Cafe…
‘Hustle’ and a heart: Beth Engel on the ethos of Dundee Venture Capital’s new fund
In a red, grid-lined journal, Beth Engel outlines a note in large block letters. With each stroke of her pen, “HUSTLE” grows bolder. As though to protect the musing, the venture capitalist of three years adds a box around the reminder before once again tracing over the word. Engel continues to sketch as she eloquently…
Timely funding opportunities for Kansas City startups
Despite Kansas City’s recognition as a tech hub, its variety of incubator programs and array of successful startup ventures, the metro’s entrepreneurial ecosystem is still trying to fill the money gap. How can the community ensure that entrepreneurs have access the capital they need? Well, as KCSourceLink knows well, appropriate funding resources vary widely depending…
Mobility Designed tackles a demand unaddressed since the Civil War
Editor’s note: This content is sponsored by LaunchKC but independently produced by Startland News. Some technologies are slow to innovate. And crutches — which haven’t changed much since the U.S. Civil War — are a prime example. “They’ve pretty much been the same for decades,” said Liliana Younger, CEO of Mobility Designed. “Although there…