WeWork raises $4.4 Billion from Softbank, Plans to Expand Globally

WeWork, a workspace company which provides co working spaces to smaller companies and usually to tech startups, recently announced that SoftBank has made an enormous  investment of $4.4 billion in the company.

With a network that has grown in around 160 locations around the world with more than 1,50,000 members in last seven years is expected to use this grand investment to mark a global presence. The $4.4 billion investment will include $3 billion for WeWork’s core operation for new or existing shares and the remaining $1.4 billion is to buy shares in China, South Korea, Southeast Asia and Japan which are newly created WeWork companies.

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Also, with this grand investment, SoftBank will get some seats in the board of directors of WeWork.

With the latest investment, SoftBank accounts for more than half of the money invested in WeWork. Within just seven years, WeWork has managed to get $10 billion dollars of funding.

 


 

Rutavi Bhatia

Author at Coworking India Magazine. I love writing about entrepreneurship, innovation and technology.

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