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WeWork Coworking Acquisitions & Its Growth

1Apr By Sheldan RungasamyNo Comments

ACQUISITION, ANALYSIS

WeWork Coworking Acquisitions & Its Growth

WeWork, the famous co-working space provider was founded in 2010 when it opened two offices in New York. The purpose of the company was to provide workspaces to companies and people where they could expand together. They are also reknown for giving their locations a design face-lift and providing their client-base with dynamic environments that is meant to boost creativity, focus and facilitate connections. Their aim when they opened their first office was to humanize work by making CEOs help each other grow their respective businesses, and provide offices as comfortable as the employees’ home. Eight years since its inception, the company is now present in 56 cities and 18 different countries. Indeed, the company grew very quickly. They opened two locations in 2010 and doubled that ...

14Mar By Sheldan RungasamyNo Comments

FUNDING

WeWork Raises $400 million Funding To Buy its Office Buildings

WeWork, a firm that delivers co-working and office space to small businesses and big corporations as well, is reported to have received a funding of $400 million. However, this funding round is different from previous funding rounds. It will come as an investment in the form of a small group of collective investments schemes with particular focus on real estate. It is the prolongation of a successful partnership between WeWork and a large private equity firm seeking to acquire real estates for WeWork’s business purpose. According to SEC filings, WeWork raised four new funds in association with Rhone Group, a private equity firm owning offices in New York, London and Paris. The funds raised include a first round of $25 million in new cash, a Fund A round of $201 million, a Fund B round o...

Temasek’s Vertex Closes $210 Mn Fund For Southeast Asia, India

9Oct By reutersNo Comments

BUSINESS

Temasek’s Vertex Closes $210 Mn Fund For Southeast Asia, India

Vertex Ventures, the venture capital arm of Singapore state investor Temasek Holdings, said it has raised a $210 million fund to invest in southeast Asian and Indian startups, exceeding its original target size of $150 million. Vertex plans to continue its strategy of investing in early-stage technology companies in southeast Asia and India across enterprise technology, financial technology and consumer internet, it said in a statement. Vertex was an early investor in ride-hailing firm Grab. In July, Grab announced a $2.5 billion fundraising round, which a source said values it at $6 billion. ALSO READ Yahoo Says All 3 Bn Accounts Hacked In 2013 Data Theft Indian Government Makes Changes in GST, Relief to SMEs and Exporters Ve...

San Francisco Based Slack Raises $250 Mn From SoftBank Vision Fund

18Sep By PriyankaNo Comments

FUNDING, USA

San Francisco Based Slack Raises $250 Mn From SoftBank Vision Fund

San Francisco based Slack Technologies Inc. raises $250 million funding round led by SoftBank Group Corp.’s Vision Fund, valuing the startup at $5.1 billion. According to the reports, Slack will be utilising the funds for expansion in an increasingly competitive market for workplace messaging services. The Vision Fund was joined by Accel and other investors, Slack said on Sunday. Slack, which originally pitched as a dead-simple collaboration tool, is now looking to become more of a go-to for larger businesses as it faces a very competitive field with products from Microsoft and Atlassian. Slack earlier in this month reported that it has more than 6 million daily active users and has crossed around $200 million in annual recurring. ALSO READ SoftBank Founder Masayoshi S...

WeWork Launches Its China Unit, Backed By Hony, SoftBank

27Jul By AdityaNo Comments

CHINA, News

WeWork Launches Its China Unit, Backed By Hony, SoftBank

Co-working space WeWork is all set to launch its Chinese unit after it raised $500 million from Hony Capital and SoftBankGroup, one of China's largest private-equity firms. WeWork will tap into booming demand for shared office space in the world's second-largest economy. With the funds raised, it will expand its services to at least 5 other locations in the next 12 months. Currently it is available in Beijing and Shanghai. State-owned real estate developer Greenland Group and hospitality company Jin Jiang International - parent of Hong Kong-listed Shanghai Jin Jiang International Hotels Group - will also invest in the local unit,said WeWork co-founder and CEO Adam Neumann. "By creating local entities we allow ourselves to take local management, give them local equity, incentivize t...

SoftBank Considers Investment of Over $1Bn in WeWork: Report

31Jan By reutersNo Comments

FUNDING

SoftBank Considers Investment of Over $1Bn in WeWork: Report

SoftBank Group is considering an investment of more than $1 billion in office-space sharing start-up WeWork, the Wall Street Journal reported, citing people familiar with the matter. The deal could be among the first from SoftBank's $100 billion technology fund, the report said. SoftBank and WeWork declined to comment. WeWork is currently valued at nearly $17 billion and SoftBank's valuation of the company is expected to be at or above this figure, the publication said, citing sources. Citing sources, it also said SoftBank had earlier discussed an investment in WeWork before pulling out and added that talks may not result in a deal this time. Some SoftBank executives have reportedly raised questions whether the WeWork deal is overvalued, saying a company in the business of offi...

WeWork Controversy- Startup Thinknum Removed After Negative Blogpost

24Jul By PriyankaNo Comments

Story

WeWork Controversy- Startup Thinknum Removed After Negative Blogpost

WeWork Cos, the office-space sharing start-up with an estimated $16 billion valuation evicted one of its tenants which wrote and take down a negative blog on medium that suggests members leave has surged in recent months. The posting on Tuesday by Justin Zhen, whose data analytics firm Thinknum operates out of a WeWork site on 42nd Street in Manhattan, also said that member engagement on WeWork's social networking platform is surprisingly low. The platform is seen inside the company as a key tool for creating a sense of community at WeWork locations. The company sees its fortunes tied to the premise that the entrepreneurs and young urban workers populating its workspaces will form lasting communities in part by being active on the network. Zhen's analysis said WeWork's historical churn ...