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
‘Legendary’ UMKC Enactus team earns spot in national entrepreneurship finals
The University of Missouri-Kansas City’s Enactus team is the fourth most impactful in the country, declared Ben Williams. “At UMKC Enactus, we take the world’s greatest challenges into our own hands, channeling our power as students, advocates, and entrepreneurs,” the team told a crowd gathered Tuesday at the Kansas City Convention Center, as they took…
Look inside: Plexpod opens coworking oasis amid River Market’s concrete jungle (Photos)
Faux grass lining the walls. Neon signs. A mix of vintage and contemporary stylings. Plexpod’s Eric Milner was initially skeptical of plans for a jungle theme in one of the co-working space’s enclaves — quirky seating areas tucked between offices and amenities at the new River Market location. “It really panned out though. Stephanie [Medina]…
Car vending machine drives into KC skyline with Carvana’s launch off Southwest Boulevard
Towering over Southwest Boulevard, Missouri’s first Carvana location has been parked in Kansas City and it’s finally ready to rev its engine, Amy O’Hara confirmed Thursday. “It’s a beautiful location and we’re looking forward to showing everyone our signature car vending machine experience and the new way to buy a car,” said O’Hara, Carvana associate…
UMKC awards students $75K in prizes at Regnier Venture Creation Challenge
Student startups are growing rapidly on the University of Missouri-Kansas City campus, said Bryan Boots. Such acceleration has been further propelled thanks to the recent distribution of $75,000 in prize money, awarded to a series of winners of the Regnier Venture Creation Challenge Competition May 2-3, split across events at the Ewing Marion Kauffman Foundation…