WeWork has raised $4.4 billion in funding from SoftBank Group and SoftBank Vision Fund.
The funding includes a $3 billion investment in WeWork itself, and an additional $1.4 billion in three new WeWork subsidiaries – WeWork China, WeWork Japan, and WeWork Pacific.
As a result of the new funding, WeWork is adding two new members to its board: Ronald D. Fisher, director of SoftBank Group; and Mark Schwartz, external director of SoftBank Group.
Earlier this year, the Wall Street Journal reported that WeWork raised $300 million from SoftBank with plans to raise a total of $3 billion. Then, in early July, Bloomberg reported that WeWork had gotten another $760 million. At the end of July, WeWork secured an extra $500 million from SoftBank. It’s not clear if this $4.4 billion round is a culmination of the past rounds this year, or an additional investment from SoftBank.
WeWork was valued at $21 billion as of July, making it the fifth highest-valued startup in the world. The company has now raised a total of $7.1 billion.
SoftBank’s investment represents one of the first made by its new $100 billion tech-focused Vision Fund, which was announced last October and is being described as the largest fund of its kind in the world.
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