The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OfficeStaff WriterSun 27 Aug 17

Softbank Announces $4.4 billion Investment in Coworking Start-Up WeWork

wework_shanghai_linehouse_002_620x380-1

Co-working pioneer WeWork has secured a massive US$4.4 billion injection of capital from Japanese conglomerate Softbank.

The Japanese telecom giant will buy $3 billion worth of new and existing WeWork shares as part of its new $100 billion investment portfolio. The seven-year-old office rental company is now valued by investors at around US$21 billion. Of the Softbank investment, $1.4 billion will be directed to fuel the company’s expansion in Asia.

The funds come from Softbank itself and its giant $US93 billion tech-focused Vision Fund. The Wall Street Journal describes WeWork now as the fourth-most valuable start-up in the US behind ride-hailing company Uber Technologies, home-rental site Airbnb and rocket-maker Space Exploration Technologies.

WeWork's LaFayette space in Paris.

“We are thrilled to support WeWork as they expand across markets and geographies and unleash a new wave of productivity around the world,” SoftBank chairman and chief executive Masayoshi Son said.

Softbank also will receive two seats at WeWork’s board table.

Since launching in Australia late in 2016, WeWork has accumulated more than 26,000 square meters of space in Sydney and Melbourne.

Earlier this year WeWork announced its intention to occupy Melbourne’s historic 401 Collins Street building by the end of 2017 and take up about 6,000 square meters of space.

WeWork has grown from operating in a single small building in Manhattan to now more than 160 locations in 16 countries, with nearly $US1 billion in annualised revenue and more than 125,000 desks.

OfficeAustraliaSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
Global ports shift up to 30 per cent of containers by rail—Brisbane moves less than 2 per cent. Here’s why that’s a prob…
LATEST
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/softbank-announces-4-4-billion-investment-coworking-start-wework