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
Novel Growth announces new $12M+ fund, expansion to Chicago, Indianapolis, St. Louis
An oversubscribed first fund for Novel Growth Partners will help the Kansas City-based financing firm expand its tech investments in Chicago, Indianapolis and St. Louis. With more than $12 million banked for the fund, Novel is poised to use its unique revenue-based financing model to focus on boosting B2B software startups, the firm said in…
Boddle scores $25K AT&T Aspire audience award thanks to tough love on duo’s most difficult pitch
Just because a pitch is tough doesn’t mean it won’t payoff, said Clarence Tan. “Smiles will take you miles,” Tan, CEO and cofounder of Boddle Learning, said of his and co-founder Edna Martinson’s latest pitch at the AT&T Pitches and Purpose contest in San Francisco — the pair’s most difficult presentation to date, they said…
H&R Block plans $3.5M in KC investments to combat social isolation, boost entrepreneurs
H&R Block filed its intentions Thursday to contribute $6.5 million over the next five years to support neighborhood revitalization and the success of small businesses nationally — with $3.5 million slated specifically for Kansas City. “Make Every Block Better” teams the Kansas City-born tax preparation giant with five key partners in the local entrepreneur and…
Fund Me, KC: My Bear Jeff spreads comfort to child trauma survivors, bear to bear
Startland News is continuing its “Fund Me, KC” series to highlight area entrepreneurs’ efforts to accelerate their businesses. This is an opportunity for entrepreneurs — like Rachel Cohen with her My Bear Jeff campaign — to share their crowdfunding stories to gain a little help from their supporters. Who are you? Rachel Cohen, Chief Bear Officer…