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
Parallels emerge between Midwest, Belfast entrepreneurs
Belfast, Northern Ireland — Despite the some 4,000 miles between them, entrepreneurs in Northern Ireland and the Midwest have more in common than one may know. During a series of business and social gatherings with members of the Pipeline entrepreneurial fellowship program, Belfast entrepreneurs quickly learned how similar they are to those in America’s “flyover”…
Olathe partnership bears fruit in latest Digital Sandbox cohort
With the buzz of Techweek KC still in the air, Kansas City-based incubator Digital Sandbox reveals the four new startups in their program. Directed by Jeff Shackleford, Digital Sandbox invests up to $25,000 in area companies and provides proof-of-concept resources. Launching in 2013, the incubator has worked with over 300 entrepreneurs and early stage companies…
Coworking studio the GRID marks grand opening in Overland Park
Already popular in downtown Kansas City, coworking options are now expanding further south into the metro area. Jennifer Stearns, community manager at the relatively-new GRID collaborative workspaces in Overland Park, said that coworking has a bright future in not only Kansas City but also in its suburbs. The facility opened their doors in April, but…
Reporting from Ireland: A pint with Pipeline fellow Jeff Rohr
Belfast, Northern Ireland — Keen to tap Irish hospitality and a culture of innovation, members of the Pipeline entrepreneurial fellowship program have incurred no shortage of either in Northern Ireland’s capital city. After a morning of “speed dating” with Irish entrepreneurs, 13 fellows in Pipeline’s 2016 fellowship class joined alumni at Brewbot to continue fostering…