WeWork Scores $4.4B Investment
ByWeWork Cos. just reeled in the kind of mega-monetary commitment startups dream of. The collaborative workspace provider announced that Tokyo-based multinational telecommunications Softbank Group and the Softbank Vision Fund will invest $4.4 billion in the company.
“This support from SoftBank and the Vision Fund will provide even more opportunities for creators as we set out to humanize the way people work and live,” Adam Neumann, co-founder & CEO of WeWork, said in a prepared statement.
WeWork’s parent company will receive $3 billion through the investment in new shares and a secondary purchase of existing shares. Another $1.4 billion will be directed toward three recently launched companies that will finance WeWork’s growth plan in Asia: WeWork China, WeWork Japan and WeWork Pacific, covering Southeast Asia and Korea…
