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
Project UK banks $50K JPMorgan Chase Foundation investment via ‘united effort’ with UMKC Innovation Center
A hefty infusion of funding is expected to help Project United Knowledge offer more tools to black, Latinx and other professionals from underrepresented groups, according to the UMKC Innovation Center. The $50,000 investment from the JPMorgan Chase Foundation was awarded to the UMKC Innovation Center, which partners with Project UK to deliver programming, resources and…
Clara Biotech boasts first-of-its-kind cancer detection from lab in Lawrence
A Kansas startup says its cancer detection process — requiring only a single blood sample — could dramatically simplify a often-harrowing health care experience, as well as lead to personalized treatments for illnesses ranging from cancer to neurological diseases like Parkinson’s or multiple sclerosis. Clara Biotech — based in Lawrence at the BioScience and Technology…
OHUB’s ‘unapologetic’ arrival in KC comes with $300K in support; ‘Cosby Show’ alum at Friday event
A familiar face from pop culture and $300,000 in entrepreneurial support are just two highlights tied to the Opportunity Hub’s new effort to build a more inclusive startup ecosystem in Kansas City. “Many times, [building an inclusive community] involves hosting a series of frequently held, branded events that introduce community stakeholders to black and Latinx…
Women2Women tour: Conversation in Kansas City will ripple back to lawmakers in DC
Editor’s note: This content was sponsored by Women2Women Conversation Tours but independently produced by Startland News. From the dining room table to the halls of Congress, conversations about issues important to women need to be at the forefront of the national agenda, said Sarah Chamberlain, founder of the Women2Women Conversation Tours and CEO of Republican…