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
Not just a pet project: Why this KC e-commerce team adopted a dog supplement brand as its own
The Morgans — the family behind Marknology, a bootstrapped digital marketing firm specializing in Amazon sales — are taking a dog supplement brand that they built as a client to the next level now as owners, they shared. Waggedy — veterinarian-formulated supplements to keep dogs healthy and active, launched by Ben Bellinson in 2015 in…
She’s the mixologist of melt: Jess Priemer blends a cocktail of Kansas City into candle scents
With niche blends like 18th & Vine (whiskey, tobacco, and rose) and KC BBQ (hickory, oak, and BBQ sauce), Jess Priemer evokes memories and local landmarks with the lighting of each wick. Her candles are the best part of what makes Kansas City uniquely home, she said. “I love this city, like everybody else around…
Inside grantmaker’s ‘major shift’: Here’s how dreaming big could help rural communities thrive
The Patterson Family Foundation is committed to helping rural communities in Kansas and western Missouri thrive, said Chris Harris, noting the foundation’s new grantmaking strategy expands that access more broadly across its priority region. The Kansas City-based Patterson Family Foundation — founded in 2007 by Neal Patterson, the late Cerner CEO and co-founder, and his…
With the world tanking, this entrepreneur descaled opportunity from the bottom of your dentist’s aquarium
Brian Blake didn’t just start Merriam-based Boodleshire Aquatics; the biologist and lifelong lover of aquatic life built it from a moment of pause. He always dreamed of turning his passion into a business — returning to water at times throughout his career — but the push to take that leap came in an unexpected way.…