WeWork Valuation Hits $16B
WeWork just won't stop...growing, that is. The office-sharing startup is raising $430M in a new funding round, putting the company’s new valuation at $16B. Investors leading the deal are Chinese firms Legend Holdings and Hony Capital, which drives WeWork’s valuation north while also getting it access to the Chinese market. Before the latest cash infusion, WeWork was already ranked the 11th most valuable startup in the world.
The move comes on the heels of November rumors that WeWork—then valued at $10B—was targeting $750M in debt, Business Insider reports. WeWork now has 80 co-working spaces in 23 cities around the world, filled with 50,000 clients who range from startups to Fortune 500 companies. Interested in joining the fun? You can get your own desk starting at $45 a day. [BI]