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
J Rieger continues its international push, adding whiskey distribution to northern neighbors
Fresh off its win as the KC Chamber’s top international small business, J. Rieger & Co. announced its expansion into Nova Scotia — a milestone as the Kansas City-based distiller enters the Canadian market. “We are thrilled to bring our range of artisanal spirits to Canada for the first time,” said Ryan Maybee, co-founder of J.…
Mid x Midwest returning in November with renewed vision to connect KC founders, VCs
The pilot Mid x Midwest event in fall 2022 supported the idea that early-stage tech founders and investors are hungry for more conversations post pandemic, Dan Kerr and Maggie Kenefake shared, spurring the return of the invite-only meetup in November. “We both showed up that morning to Hotel Kansas City and we walked into the…
PrairieFood grows power of its micro-carbon ag solution with a pipeline of human connection
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. LAWRENCE — Entrepreneurship is all about networking, Robert Herrington said. “You never know where a pivot or direction is going to come from,” said Herrington, an early member of the Pipeline…
C2FO marks $300B in funding for businesses as entrepreneurs navigate ongoing credit crunch
Rapid marketplace expansion in the first half of 2023 helped push Leawood-based C2FO — the world’s on-demand working capital platform — past the $300-billion mark in total funding to its customers. This record funding amount reflects invoices paid an average of 31 days early via C2FO’s platform. C2FO gets vital, low-cost capital into customers’ hands…