WeWork is expanding to Japan in partnership with SoftBank

By : |July 18, 2017 0

WeWork would be launching its co-working spaces in Japan thanks to a joint venture with SoftBank. According to their agreement, SoftBank and WeWork will each own 50 percent of the joint venture.

WeWork which rents desks in co-working spaces and provides consulting services is one of the most valuable venture-backed companies in the US with a valuation around $20 billion. In addition to the US, WeWork operates in 16 different countries including Argentina, China, Israel, India and Germany.

“At WeWork we want to create a world where people work to make a life, not just a living,” said WeWork chief executive Adam Neumann.”SoftBank shares our tenacity and entrepreneurial spirit and through collaboration, we will work to benefit people and communities in many innovative ways.”

                                 

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Earlier this month Bloomberg reported that WeWork has raised $760 million in a funding round that valued the company at $20 billion. This came shortly after SoftBank invested $300 million in WeWork.

The new joint venture plans to open its office in Tokyo early next year and will be headed by Chris Hill, who previously headed WeWork’s global operations.

WeWork is looking to continue its global expansion. Bloomberg reported that the company is in talks with Mitsubishi Estate Co. to open as many as 20 co-working spaces in Tokyo.

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