SoftBank invests $4.4 bn in shared offices firm WeWorkStaff Writer | August 25, 2017
Office sharing startup WeWork announced that Japan's SoftBank Group has made a $4.4 billion investment in the company.
Investment Warehouse-style shared workspace
WeWork — which offers warehouse-style shared workspace to smaller companies, primarily tech startups — expected to use the massive investment by SoftBank to expand its global presence.
"WeWork is leveraging the latest technologies and its own proprietary data systems to radically transform the way people work," SoftBank Group chief executive Masayoshi Son said in a release.
"We are thrilled to support WeWork as they expand across markets and geographies and unleash a new wave of productivity around the world."
The investment being made by SoftBank and its Vision Fund will include $3 billion pumped into WeWork's core operation through new shares and purchases of existing shares.
The remaining $1.4 billion will go to buy shares in freshly created WeWork companies focused on China, Japan, South Korea, and Southeast Asia, according to the U.S. firm. ■