Real Estate Company WeWork Brings In $4.4 Billion

WeWork announced it has raised $4.4 billion in financing from SoftBank Group.

WeWork, which was founded in 2010, is a leading shared workspace provider, with more than 120,000 members in 156 offices worldwide. Entrepreneurs, freelancers, and remote workers who maintain bases at WeWork receive amenities that include free coffee, meeting rooms, privacy booths and networking events. The company recently expanded into other services, including WeLive, a shared housing service that allows people to rent apartments and live in community-like settings. WeWork has also introduced an enterprise offering that builds custom workspaces for large enterprises’ satellite offices and remote teams. GM, Marriott, Dell, KPMG, and other established multinational giants are users of WeWork Enterprise.

According to Bloomberg, the investment from SoftBank is broken into several parts. It includes $3 billion to buy shares from WeWork directly as well as from current shareholders who want to sell their stakes.