The co-working juggernaut marches on

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Fresh from a $500 million funding round, WeWork was just reported to have received a generous $4.4 billion investment from SoftBank Group’s Vision Fund.

In Singapore, WeWork doesn’t have any presence yet, but they are coming. The Republic of Singapore and Japan are reportedly in their sights, and are trying to fight off competitors JustCo and UrWork.

The co working operator has more than 150,000 members across 160 locations in 16 countries. With this fresh round of funding, SoftBank Group’s Ronald D. Fisher and Mark Schwartz will be part of the Board of Directors.

Part of the $4.4 billion cash pile will go to shareholders who want to cash out, and some will go to previously announced projects in China and Japan. WeWork is aggressively expanding to grab a major pie in the sharing economy for white collar workers. If office trends are anything to go by, the co-working phenomenon is set to grow, with law firms and banks, traditionally the bastion of rigid and uptight work practices, beginning to adopt the practice of letting some of their workers from home or a shared office space.

 


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