SoftBank takes over WeWork. How will it transform WeWork?

Publisher:平和宽容Latest update time:2019-10-23 Source: 21icKeywords:SoftBank Reading articles on mobile phones Scan QR code
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WeWork was founded in 2010 as a startup company that provides shared office space. Since its establishment, WeWork has achieved rapid development under the halo of the sharing economy and was once a unicorn company favored by all walks of life. However, it is now facing the dilemma of shrinking valuations and no hope of going public.


Its largest investor, SoftBank, has also paid a huge price. However, SoftBank does not seem to be completely disappointed with WeWork. Recently, SoftBank continued to invest US$5 billion in an attempt to take over WeWork in full.

SoftBank Group has reportedly obtained approval from WeWork's board of directors to acquire a controlling stake in the troubled co-working space, provided that WeWork founder Adam Neumann is kicked out and, of course, receives a hefty compensation, reportedly $1.7 billion.


In recent years, the sharing economy has experienced a roller coaster-like development in China. Sharing startups that were once sought after by investors have collapsed, been sold or are on the verge of bankruptcy, the most typical of which are Mobike and OFO.


WeWork in the United States seems to be no exception. This time, SoftBank has changed from an investor to an operator. I wonder how it will transform WeWork?

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