Morrison & Foerster and Skadden Arps Slate Meagher & Flom are advising as Japanese telecommunications company SoftBank Group invests $ 4.4 bn (# 3.4 bn) into US workshare
space company WeWork.
Kabbage joins Softbank's diverse investment portfolio including hugely popular team - building platform Slack (valued at more than $ 5 billion following a $ 250 million injection from Softbank) and co-working
space company WeWork (a $ 4.4 billion investment).
With his $ 98 billion Vision Fund, he has barged into Silicon Valley, paying top dollar for big stakes in the ride - sharing giant Uber and the office -
space company WeWork.
Not exact matches
WeWork's ambitions in the enterprise
space are still loosely defined, (the
company does not advertise pre-selected packages for enterprise
companies on its website, but rather works with
companies on a case - by - case basis).
While employees from enterprise
companies (defined as
companies with 500 or more employees) like Salesforce and Dell have held memberships at the co-working
spaces in the past,
WeWork started making a concerted effort to tailor its
spaces to these types of workers about a year ago.
For its part,
WeWork wants to be considered a services
company — one whose key differentiator is an ability to create office culture in its myriad co-working
spaces.
Co-working real estate startup
WeWork is readying a new startup incubator, called Area 51 Paradise Ranch, which will be trialed at the
company's Tribeca office
space, Wired reported on Monday.
That's comparable to what
WeWork customers pay for that
company's «hot desk» offering, which allows them to work at table in an open
space in one of
WeWork's offices.
Today the
company says more than 100,000 people in 65 major U.S. cities, as well as 44 international cities, use
WeWork's shared office
space — ranging in price from $ 45 to $ 450 per month, depending on the amenities.
Late last year the
company signed a deal with Microsoft, giving its global and marketing teams access to its own custom - designed
space at two
WeWork locations in New York City.
WeWork, the New York City - based
company that provides shared work
spaces for entrepreneurs, freelancers and small start - ups, is now attracting Fortune 500
companies.
WeWork is basically in the real - estate business: It takes out large leases in buildings and then sublets the
spaces to smaller
companies.
WeWork's 50,000 clients range from startups — Business Insider uses a
WeWork space out in San Francisco — to big
companies like Merck and American Express.
When he and co-founder Adam Neumann created the first
WeWork co-working
space in New York City in 2010, they soon realized what would set them apart was not just providing the logistics to other
companies and entrepreneurs to operate individually, but by «connecting then to other cool awesome people» working around them.
According to McKelvey, a trained architect, more than 70 percent of
companies using
WeWork spaces have collaborated with each other.
The largest private tech
company in New York is Infor (I haven't heard of them either), followed by a grocery store (Fresh Direct), office
space (
WeWork), and insurance
company (Oscar).
The sorts of co-working
space companies like
WeWork provide is one example, but so are businesses doing things like not assigning a permanent desk at all to anyone below a certain job title (e.g., VP).
But the pitch as a tech
company alongside a real estate
company may be a bit easier as he says
WeWork has a lot of analysis going on behind the scenes to make sure
spaces are optimized.
This is why as soon as
WeWork, the US shared office
space company, said it wanted to issue $ 500 million of high yield bonds, we saw morale perk up and investors dive into the new issuance.
The
company that owns the department store chain, Hudson's Bay, said Tuesday that it was selling off the flagship store to
WeWork, a seven - year - old start - up whose office - sharing model is helping to reinvent the concept of work
space.
WeWork is a tech
company that rents out office
space to startups, artists, freelancers, and small businesses in 15 cities around the world.
The program involves a partnership with
WeWork Companies, which operates rental
space worldwide for business travelers who need a desk, high - speed Wi - Fi, printers, and meeting rooms, according to a report in Bloomberg News.
Co-working
companies like
WeWork are eating up office
space around the world.
Shortly we will be moving the whole team — the
company has 320 people — to the
WeWork facility in the Prudential Building, and we'll stay there for approximately two years and then look to take our own
space going forward.
WeWork is a co-working
company that can find the perfect work
space for you.