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
OP-based Innovation in Motion angel fund finds sweet spot in seed stage startups
A financial haven for entrepreneurs with fresh ideas in the agriculture, animal and human health spaces, Innovation in Motion (IIM) has made its ninth angel investment, said Lydia Kinkade. “We look for companies that are solving big problems, have a stellar team, and are poised to grow quickly,” said Kinkade, the Overland Park-sown fund’s managing…
Life Equals shoots $2.35M oversubscribed round led by former Anheuser-Busch InBev exec
Well, that didn’t take long. A freshly raised $2.35 million investment round will be a turning point for Life Equals, taking its brand to the national stage, said Kyle FitzGerald, announcing the funding Thursday at Startland’s Startups to Watch in 2019 celebration. Life Equals was selected as No. 7 on the list of Kansas City…
Chain of Trust manages secret passwords after coffee shop meetup, corporate departure
From Starbucks to startup, a swipe right on networking opportunities led two Kansas City, Kansas, men to an adventure in tech entrepreneurship — disrupting the secret management space with the inception of Chain of Trust Technologies, they said. “If you’re going to be an entrepreneur, get people who you can talk to that can give…
Latest Pipeline fellows include familiar KC founders, startups focused on eSports, saving pets, ‘hearables’
Eight Kansas City startup founders have the opportunity to build a lifetime of high-level entrepreneurial support as 2019 Pipeline fellows, said Joni Cobb. The Pipeline network of top-tier Midwest founders announced 13 new fellows last week at the organization’s annual Innovators event, staged this year in Omaha, said Cobb, president and CEO of Pipeline. More…