SoftBank Invests Additional $2 Billion in WeWork

SoftBank has announced their intent to invest an additional $2 billion USD in start-up company WeWork. This is on top of a previous investment of $4 billion, and another investment before that of $4 billion, bringing SoftBank’s total contributions to the company to $10 billion. According to a report from December, SoftBank was originally planning to invest $20 billion total into WeWork, but decided to tone down their contributions for an unspecified reason, despite (or perhaps because of) the fact that doing so would make them the majority shareholder.

In addition to this news, WeWork has announced that it will begin a rebranding campaign for the company, starting with the name: instead of WeWork, the company will now be known as The We Company. Experts speculate this move to be one of preemptive marketing; the We Company will still be offering all of the work assistance services that WeWork did, but the removal of focus from the working aspect suggests that the company is planning on branching out into other facets of urban life.

The company is currently workshopping ideas for new branches, including (but not limited to) WeBank, WeSleep, and WeSail. These are on top of the company’s existing pursuits such as residential living branch WeLive and early schooling branch WeGrow.

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5 years ago
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