KUALA LUMPUR, Jan 9 (Bernama) -- WeWork has received a US$6 billion (US$1 = RM4.11) investment from SoftBank for which US$5 billion is primary growth capital and US$1 billion is secondary capital to fund share purchases from investors and employees.
The investment includes a previously announced US$4 billion funding commitment from SoftBank in the form of a US$1 billion convertible note and US$3 billion warrant.
“WeWork is disrupting a multi-trillion-dollar industry with a technology platform that provides a complete solution for space needs.
“WeWork has already experienced unparalleled growth and we are confident that with Adam’s (Neumann, The We Company co-founder and CEO) vision and this growth capital, the company will be able to aggressively pursue the enormous market opportunity ahead of them,” said SoftBank Group Corp chairman and CEO, Masayoshi Son.
In a statement today, WeWork also announced the launch of The We Company which consists of three distinct business lines: WeWork, WeLive and WeGrow.
“Through the extended WeWork network and the Meetup community, The We Company now touches five million people around the world, with the funding to reach millions more.
“We’re driven by the impact we know we can have when we all work together with a shared intention,” said Neumann.
The We Company’s mission is to help people live proactively and with purpose, be a student of life -- for life -- and accept that humans are always growing and in a constant state of self-discovery, self-growth and change.
For more information, visit we.co.
-- BERNAMA
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