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.Share this article