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
Cheese, chips, and cheers: Deez Nachos joins Parlor with its first fixed location
Dwight Tiller II is taking his family’s loaded nacho business from wheels to brick-and-mortar with its new spot — parked on the first floor of Parlor, Kansas City’s first modern food hall. Previously at the Crossroads-based Parlor as the former co-owner and head chef of KC Mac and Co., Tiller now is taking Deez Nachos…
Serial entrepreneur Matt Watson completes strategic buy-out of Full Scale
A prominent, twice-exited Kansas City entrepreneur has acquired full control of a company he co-founded five years ago — with plans to expand its leadership team and grow its employee count from 300 to 500 in 2025. Matt Watson announced Monday the completion of a strategic buyout of his co-founder, Matt DeCoursey, at Kansas City,…
He dreams of a pickle truck driving through your neighborhood; How word of mouth fuels Ritchie Cherry’s Good Ass Pickles
Ritchie Cherry has good friends to thank for his latest business venture, Good Ass Pickles, he shared. After trying his sweet and spicy garlic pickles during the pandemic, he said, they encouraged him to sell them — with one friend even buying him a case of jars to fill. “They all just started me off,…
KC’s first Hispanic beer company faces make-or-break holiday season; this popup could tap its potential
A holiday-time popup location for Kansas City’s first Hispanic brewing company offers a taste of what’s to come if Rizoma Liquid Creations gains the support it needs for a brick-and-mortar space of its own, said Damon Arredondo. “We can’t get the capital at this moment, so doing these events allows us to bring in potential…