The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
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
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
Healthscope Hospital EDM
Exclusive

‘Once-in-a-Decade’ Opportunities Rise in Wake of Healthscope Collapse

Clare Burnett
7 Min
Exclusive

Parking Upsize Threatens Fatal Blow to Project Feasibility

Phil Bartsch
6 Min
One New Zealand Stadium BESIX Watpac
Exclusive

Rising to a Challenge: How BESIX Watpac Topped Australia’s Builders

Clare Burnett
7 Min
Exclusive

Rewards Outstrip Risk in SE Queensland Off-The-Plan Buys

Taryn Paris
7 Min
View All >
Aerial photo of St Mary's Intermodal Terminal in Western Sydney now sold by Pacific National to PGIM and Cadence.
Industrial

Cadence, PGIM Team Up for $145m Freight Rail Acquisition

Marisa Wikramanayake
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
Development

Melbourne Luna Park Revival Wins State Backing

Marisa Wikramanayake
The Victorian government has provided funding in the state budget to restore Luna Park’s unsafe, century-old Palace Buil…
LATEST
Aerial photo of St Mary's Intermodal Terminal in Western Sydney now sold by Pacific National to PGIM and Cadence.
Industrial

Cadence, PGIM Team Up for $145m Freight Rail Acquisition

Marisa Wikramanayake
2 Min
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
Development

Melbourne Luna Park Revival Wins State Backing

Marisa Wikramanayake
2 Min
Sydney Fish Market Blackwattle EDM
Planning

Sydney Fish Market Rezoning Clears Way for 320 Homes

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