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
Jason Sudeikis’ rockstar karaoke fantasy returns: Here’s why Thundergong! matters to homegrown ‘Ted Lasso’ star
Kansas City is the “secret sauce” in the recipes for Thundergong! and Big Slick, said Jason Sudeikis, who helps host the two high-profile events. The Overland Park native and “Ted Lasso” star was in Kansas City Friday to promote the annual Thundergong! fundraiser for Steps of Faith Foundation — returning Saturday at the Uptown Theater.…
Triple (stitched) threat: Olathe apparel shop brings design, sewing, printing in-house with shirts hitting store shelves soon
Adam Worrel’s vision for a fabric-to-finish apparel and screen printing business is finally sewing itself together — nearly 4,000 miles from where it began — with a label made in KC. First formulating the idea in 2010, he imagined creating a line with production and printing in-house and as much control over the supply chain as…
Why employers should hire veterans: KC entrepreneurs say combat prepared them for startup life
Effectively communicating the skills and experiences gained from military service can be a major challenge for veterans, said Zachary Oshinbanjo. Too often that disconnect contributes to unemployment or mental health struggles when a service member returns to civilian life. “Many veterans may have gone straight from high school into the military and now are looking…
How did KC land Meta, Panasonic megaprojects? Infrastructure, energy and enthusiasm, companies say
Kansas City is one of America’s most exciting and dynamic cities, said Matt Sexton, making it the ideal choice to build out a nearly 1 million-square-foot data center for Meta, the tech behemoth behind Facebook, Instagram, and WhatsApp.. “There are a lot of sites around the country that might have one or two qualities that…