In The Loop: WeWork, Ucommune, And Happiness

Nov 7
WeWork’s rival, Ucommune, closed a $200 million funding round this week that will help the company power its international growth

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SoftBank Commits $3 Billion to WeWork

SoftBank, which last year invested $4.4 billion in WeWork, has committed an additional $3 billion in the coworking company in the form of warrants. This new investment rose WeWork’s valuation to $42 billion and it will help power WeWork’s aggressive growth plans.

Ucommune Raises $200 Million

WeWork’s Asian competitor, Ucommune, closed a $200 million Series D funding round this week. TechCrunch reported that “the new round was led by Hong Kong-based All-Stars Investment with participation from Chinese investment bank CEC Capital and other investors.” Ucommune is now valued at $3 billion and the funds will be used to fuel Ucommunes international expansion.

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Pursuit of Happiness is Driving Coworking Growth

According to the Financial News, companies are telling real estate agents that they are searching for a better sense of community in the workplace. Organizations are increasingly becoming aware of the benefits offered by flexible workspaces, citing community, ease of moving, wellness, happiness, and productivity.

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