After WeWork revealed a positive growth in the first quarter of 2019, experts are still concerned about how sustainable the company would be in the face of a recession.
What is SoftBank’s newest real estate venture?
SoftBank’s Vision Fund has invested billions of dollars into real estate technology, including WeWork, Opendoor and others. Now, it’s venturing into a new corner of real estate.
The company said it led a $200 million funding round into Clutter, a storage service company that includes picking up and dropping off user’s items. The investment takes Clutter’s valuation to $600 million.
Justin Wilson, a director at Vision Fund who will join Clutter’s board, said that the company sees real estate as a service and that Clutter is taking great advantage of the U.S. storage market. Other competitors in the storage industry simply offer customers a place to store items for a monthly fee.
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Clutter CEO and co-founder Ari Mir said the new investment will give the company a chance to expand in current markets such as Los Angeles, New York and San Francisco, as well as opening up to new cities.
“Ultimately if you’re as long-term focused as we are, working with a partner like the Vision Fund was an ideal match for us,” said Mir. “Whatever dilution that we may have or have not taken as part of this round is nominal as you look at our business over the next few decades.”
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Coworking spaces are the perfect hub for sharing ideas and collaborating with like-minded workers, but what happens when the lack of privacy leads to corporate spying?
According to Coworking Resources, coworking spaces are continuing steady growth this year as firms continue to gear their services and amenities towards Millennials.
Young adults have started choosing the all-in-one model when it comes to work and favoring workspaces that also provide lifestyle amenities such as gyms, cafes, and more.
Codi is a startup out of the Bay Area that allows residents to apply as hosts and provides remote workers access to apartments or houses to be used as coworking spaces.
Ahead of its initial public offering, WeWork is shifting their narrative so public market investors see their losses as investments in an effort to avoid the Uber effect.
Kr Space, WeWork’s biggest competitor in China, has raised $145 million in a new funding round led by IDG Capital as well as Gopher Asset Management and Yixing Capital.
Coworking operator Industrious will open its first workspace within an Equinox fitness center at Hudson Yards in New York City, taking up 44,000 square feet of space.
Coworking provider Spaces has announced that its fifth Australian location will be located at Charter Hall’s newly redeveloped, luxurious Raine Square in Perth.
New York-based coworking operator Knotel will open its first Dublin location by the end of the year as it continues its major expansion across several European markets.