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
LaunchKC winners reflect on ‘massive opportunity’
Once the dust settled on the LaunchKC grant recipient announcement, the champagne bottles popped. Founders from the 10 winning companies — parred down from a list of 500 — had reason to celebrate Friday afternoon between the promise of $50,000 and the chance to land some office space. Of the 10 recipient companies, six come…
Set your watch: 90 seconds with local innovators, entrepreneurs
It’s coming! Set your watch as we team up with FlatlandKC to highlight Kansas City’s innovators and entrepreneurs, all in 90 seconds. “90 on the Clock” premieres Wednesday, Sept. 23, with Callie England, founder of Rawxies, as she talks about her East Bottoms business and its raw, vegan, and gluten- and soy-free treats. The five-part series continues each Wednesday as the 90-second…
Meet the 10 startup winners of LaunchKC’s $50K
LaunchKC announced the winners of 10, $50,000 grants Friday during a celebration at the inaugural Techweek Kansas City conference. More than 40 judges evaluated pitches from 20 contest finalists, who pitched their companies Friday morning at Union Station before a crowd of about 100 people. LaunchKC kicked off in February and nabbed nearly 500 total applicants…
KC picks who they think will win LaunchKC’s $50K grants
Twenty startups are hoping to snag $50,000 during the LaunchKC grant competition. Nearly 500 companies applied to be part of the contest, which will be announcing the winners at Techweek Kansas City at 3 p.m. Friday. Below are predictions from a few members of the tech, startup and entrepreneurship community meandering around Techweek on who…