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
LaunchKC awards $300K: Six new startups enter the winners’ circle with KC investments
Editor’s note: Startland News’ coverage of Global Entrepreneurship Week-Kansas City is made possible by the support of Husch Blackwell. Emerging entrepreneurs don’t need Silicon Valley to launch or scale their startups, said Holly Andra Small, leader of one of six companies announced Tuesday as $50,000 winners in LaunchKC’s grants competition. “We were so excited,” said…
Digital Health KC earns $2M federal grant, doubled by matching funds from Kauffman Foundation
Three weeks after Kansas City’s designation as a U.S. “Tech Hub,” the region has earned “tremendous funding to jumpstart KC’s digital health cluster,” said Maria Meyers, informally announcing a $2 million federal grant — matched by an award from the Ewing Marion Kauffman Foundation. The Build to Scale grant was awarded to the University of…
Pitch competition at GEW Topeka puts $38K on the line for women, entrepreneurs of color
Startland News’ Startup Road Trip series explores innovative and uncommon ideas finding success in rural America and Midwestern startup hubs outside the Kansas City metro. TOPEKA — Building an equitable business community in Shawnee County is critical to economic development in and around the state’s capital city, said Glenda Washington. A pitch competition slated for…
KC lawmakers backing legislation to boost re-entry for veterans becoming entrepreneurs
Veterans who return to the workforce as entrepreneurs face unique challenges when exiting full-time military life, said Brian Newton. A bipartisan push by two members of Kansas City’s delegation to the U.S. House could ease the transition for veterans-turned-small business owners. “My father was a career Marine and I served for a decade myself, with…