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.
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.
