wework receives 44 billion investment from softbank group and softbank vision fund
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

WeWork receives $4.4 billion investment from SoftBank Group and SoftBank Vision Fund

Arab Today, arab today

Arab Today, arab today WeWork receives $4.4 billion investment from SoftBank Group and SoftBank Vision Fund

the SoftBank Group
New York - Arab Today

Today, WeWork Companies (“WeWork”) announced an agreement for a $4.4 billion investment from the SoftBank Group (“SoftBank”) and the SoftBank Vision Fund (“Vision Fund”).

This investment will accelerate WeWork’s ability to connect more people to WeWork's global community, which currently stands at approximately 150,000 members, as well as further expand WeWork’s physical presence across the globe.

“Masayoshi Son is a visionary business leader and we are humbled by this strong endorsement of our mission and purpose,” said Adam Neumann, Co-Founder and CEO of WeWork. “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.”

“WeWork is leveraging the latest technologies and its own proprietary data systems to radically transform the way people work,” said Masayoshi Son, Chairman & CEO of SoftBank Group Corp. “Adam’s unique vision and talented team have created a sharing platform that offers maximum flexibility and opportunity to creators of all types, from young entrepreneurs to large multinational companies. We are thrilled to support WeWork as they expand across markets and geographies and unleash a new wave of productivity around the world.”

Overview of SoftBank and the Vision Fund’s Investment into WeWork:

    * $3 billion investment in WeWork’s parent company via a primary investment in new shares and a secondary purchase of existing shares
    * $1.4 billion investment in three newly created companies (previously announced), each controlled and managed by local WeWork management teams, which will fund WeWork’s expansion in China (WeWork China), Japan (WeWork Japan) and Southeast Asia and Korea (WeWork Pacific), respectively.

In connection with these transactions, Ronald D. Fisher, SoftBank Group Corp. Director and Vice Chairman, and Mark Schwartz, SoftBank Group Corp. External Director, former Vice Chairman of Goldman Sachs Group, and former Chairman of Goldman Sachs Asia, will join WeWork’s Board of Directors.

(All figures in USD)

ENDS

About WeWork

WeWork is a community for creators, providing more than 150,000 members around the world with space, community, and services through both physical and virtual offerings. WeWork’s mission is to help create a world where people work to make a life, not just a living. WeWork currently has more than 160 physical locations in over 50 cities and 16 countries around the world. WeWork was founded in New York City in 2010 by Adam Neumann and Miguel McKelvey. Follow us @WeWork on Twitter, Instagram, and Facebook or visit www.wework.com to find out more.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170824006090/en/

Contacts

Media Contacts:
WeWork
Dominic McMullan / Gwen Rocco / Rebecca McClain
press@wework.com
or
SoftBank
Japan: SoftBank Group
+81 3 6889 2300 or sbpr@softbank.co.jp
or
US: Sard Verbinnen & Co
Emily Claffey / Benjamin Spicehandler / Hannah Dunning
+1 212-687-8080 or SoftBank-SVC@sardverb.com

Source: ANTARA

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

wework receives 44 billion investment from softbank group and softbank vision fund wework receives 44 billion investment from softbank group and softbank vision fund

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

wework receives 44 billion investment from softbank group and softbank vision fund wework receives 44 billion investment from softbank group and softbank vision fund

 



GMT 23:24 2017 Tuesday ,24 January

Mofida Shiha prefers social TV programs to politics

GMT 21:23 2017 Sunday ,13 August

Fierce clashes between Daesh, SDF in Raqqah

GMT 19:31 2017 Monday ,16 October

Azhar Imam, Mufti to inaugurate international Fatwa

GMT 18:33 2017 Tuesday ,28 March

S. Korea Preparing for N. Korean ICBM Launch

GMT 23:39 2017 Tuesday ,19 September

Iran recruits Afghans, Pakistanis to fight in Syria

GMT 03:51 2017 Saturday ,11 November

'Lazarus' Daly says recovery no miracle

GMT 13:30 2017 Friday ,17 February

Four killed in Kashmir Gun battle

GMT 18:51 2017 Friday ,17 November

FIA WEC Bapco 6 Hours of Bahrain weekend starts

GMT 00:56 2017 Tuesday ,22 August

Britain calls on EU to move Brexit talks forward

GMT 18:56 2017 Wednesday ,01 February

Russia calls for Syria's return to Arab League

GMT 02:29 2017 Wednesday ,08 November

World's richest turf contest hikes prize money

GMT 10:33 2017 Saturday ,15 April

Chicago airport security under fire

GMT 16:30 2017 Sunday ,19 March

100,000 starve while S. Sudan buys weapons

GMT 23:09 2017 Thursday ,30 November

ERC distributes winter aid to Syrian refugees in Jordan
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday