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
Sustainable data center near downtown KCMO to help power capacity with $143M investment
Kansas City is building on its reputation as a hub for partners looking to tap into a region rich with infrastructure built for the future, said Steven Anthony, announcing the grand opening of another major, sustainable data center in KCMO. Edged — a vertically integrated global platform of on-demand data centers with operations designed to…
Potato Potatas grows the business of comfort food from the ground up (and in a pot pie)
Two years ago, Trine’ce Brown took note of restaurant chains like Chipotle and Qdoba, and wondered why there wasn’t already a fast-casual potato bar concept. She decided to start her own — but taking small steps, first working out of a Northland kitchen commissary, the Culinary Center at the Mid-Continent Public Library, starting in May.…
KC2026 team hires cybersecurity, explosives expert for key World Cup ops-planning role
In its latest high-profile move, the team behind Kansas City’s 2026 World Cup planning has tapped a former U.S. Secret Service special agent — notably the veteran of a years-long United Nations General Assembly assignment — to lead KC2026’s safety and security efforts. Kyle Postell already has led critical infrastructure protection efforts, conducted comprehensive vulnerability…
How KC’s most iconic new art installation became this season’s must-have holiday ornament (plus where to find the 14-inch version flying)
“On the first day of Christmas, my true love gave to me, a jazz bird in a pear tree,” sculptor Willie Cole said in a singsong voice. The artist behind “Ornithology” — an eye-catching and newly iconic installation suspended within Kansas City International Airport since its new terminal’s debut in March 2023 — this fall…