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Timeline: In seven years, WeWork built a $21B co-working empire

Now worth $21 billion, WeWork’s value has increased at a rapid rate since it was founded in 2010, from just under $100 million in 2012 to $5 billion in 2014 to more than $10 billion in mid-2015.


WeWork has had quite the year in what is shaping up to be quite the decade for the New York-based workspace provider.

The company, which has locations in more than 100 cities and $1 billion a year in revenue, per Reuters, has announced a $4.4 billion investment from SoftBank and its Vision Fund, bringing the startup's total funding to more than $6 billion. The Japanese telecom giant will pour $3 billion into WeWork's parent company via a combination of new and secondary shares—allowing some shareholders to cash out. The remaining $1.4 billion is set to fuel growth in China, Japan, Southeast Asia and Korea via three newly established companies. This is SoftBank's largest investment ever in a US-based company, per Recode.

In July, WeWork secured $500 million from SoftBank and Hony Capital to expand in Southeast Asia and Korea, per reports. It's acquisition of Spacemob—announced the same week—a co-working space provider based in Singapore, would help expedite the strategic expansion.

WeWork is also backed by venture capital investors including Benchmark Capital and DAG Ventures.

We've been tracking the company's fundraising efforts since the very beginning. Here's a timeline of WeWork's rise to riches, per PitchBook data.
 
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*This post was updated on 8/24/2017

  • kate-clark-1.jpg
    Written by Kate Clark
    Kate Clark was a staff writer at PitchBook.

    A Seattle native, Kate attended the University of Washington where she studied journalism and international studies. She previously wrote about the Indian startup ecosystem in Bengaluru and freelanced in the Seattle area. Follow her on Twitter @KateClarkTweets.
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