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
‘Buy, buy, buy while we can’: This KC toy store is stockpiling Christmas gifts now as tariff reality unwraps
Brett Goodwin and Alan Tipton are feeling even more thankful right now for the large, dry basement at The Learning Tree — the independent toy store they own in Prairie Village — amid worries over tariffs on Chinese imports and how they’ll impact prices from toy manufacturers. The best they can do to prepare: stockpile…
KC’s pro pickleball team getting new $6.5M home near Arrowhead, Kauffman Stadium
A long-awaited redevelopment project in Kansas City’s stadium corridor is transforming the former CoCo Key Water resort into a vibrant destination pickleball facility with eight indoor courts, a full-service bar and restaurant, a coffee shop, and event spaces. It also will be home to the Kansas City Stingers, a professional team in the National Pickleball…
Nour’s extends flavor of 39th Street’s ‘restaurant row’ to long-vacant neighborhood cafe
After a lengthy stint developing corporate dining concepts, Kansas City chef Marwan Chebaro has spent two years planning his return to public dining. Set to open in June, Chebaro’s new Nour’s restaurant will showcase his native Lebanese cuisine and culture while helping bring the community together, he said. The venture at 3855 Warwick Blvd., in…
Entrepreneur duo uses KC Current blueprint to acquire Danish football, build multi-club portfolio
A just-announced deal to purchase a premier women’s football club in Denmark reflects Angie and Chris Long’s unwavering commitment to investing in women’s soccer at the highest level, the couple said, noting they’ll continue their work to raise the bar for players, supporters, and communities both nationally and internationally. Ballard Capital, a sports entertainment-focused investment…