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
They just wanted someone to notice: 10 years (and an exit) later, the first founders featured in Startland News have come 360
Editor’s note: Startland News — officially launched May 4, 2015 — is marking its 10-year anniversary this spring. As part of this observance, the nonprofit newsroom is taking a look back at pivotal moments in its decade-long run, as well as impact along the way. Longtime editor-in-chief Tommy Felts caught up with Stuart Ludlow and David…
Entrepreneur flexes her creative strengths into visibility for Kansas City’s lupus warriors
Keisha Jordan refuses to be a wallflower in the fight against lupus, she said. The founder of Kansas City-based creative home design brand Complex Flavors, Jordan is working to raise awareness this month with her own story as an entrepreneur-turned-lupus warrior. “We just want everybody to know that Kansas City has not forgotten about the…
KC’s 10-year playbook: Celebrate the wins, but go faster, farther (and leave no talent behind)
A decade of focusing on inclusive prosperity helped Kansas City rise among its peers, said David Warm, but the next 10 years require the region work quickly, with even more intention, and leaning into Kansas City’s willingness to forge its own path, together. “We are not going to get direction from the federal government. It…
Boulevard launches BBQ beer to help new museum tell Kansas City’s smoky story
It’s a beer that could only happen in Kansas City, said Greg Garrity, teasing Boulevard Brewing Co.’s just-announced bourbon barrel-aged Belgian-style quad — a brew infused with smoked malt and a blend of bold, barbecue-inspired ingredients. Crafted in collaboration with the recently opened Museum of BBQ at Crown Center, the MO’ BBQ release is the…