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.