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
Simplifying access: PayIt teams with KCK Unified Government for enhanced myWyco app
Interacting with state and local government can and should be seamless, said Monica Harrell of PayIt, a KC tech firm that partnered its statewide iKan app with Wyandotte County’s myWyco app to create enhanced access for residents. “It’s a more streamlined experience,” said Harrell, senior client manager for Payit, “Especially because residents are not usually…
LaunchCode partners like VML turn apprentices into professional programmers
Tech fields provide a never-ending learning experience, said Mohammad Rasoulipour, a creative technologist at VML. With a background in design, Rasoulipour turned to LaunchCode to get a leg up in the web design world, try something new — and land a job a premier marketing and advertising firm like VML. LaunchCode, a free tech training program,…
Bobby Burch: ‘The mountains are calling, and I must go’ — farewell and thank you
Editor’s Note: Startland News co-founder and editor-in-chief Bobby Burch will depart the storytelling organization at the end of July. Tommy Felts will assume leadership of Startland effective immediately. It was three-and-a-half years ago when Kansas City Startup Foundation CEO Adam Arredondo approached me with a “what if” scheme to start a publication focused on entrepreneurship.…
WATCH: No reason for ‘lone wolfing’ the startup grind, LaunchKC past winners say as application window narrows
Editor’s note: This article is sponsored by LaunchKC but was independently produced by Startland News. With a July 11 application deadline nearing, LaunchKC past winners emphasized the popular, high-profile grants contest is about much more than chasing a payday. “There’s the community piece. There’s the exposure piece. But once you win — or even once…