US$2 billion
Amount of new capital SoftBank ended up investing in WeWork after working around the clock to renegotiate a revised deal at a valuation of US$47 billion.
In a company statement, WeWork CEO Adam Neumann mentioned the SoftBank investment was a US$6-billion deal. However, as some have pointed out, it’s really a US$2-billion deal on top of a previously promised US$4-billion investment.
US$2 billion
Amount of new capital SoftBank ended up investing in WeWork after working around the clock to renegotiate a revised deal at a valuation of US$47 billion.
In a company statement, WeWork CEO Adam Neumann mentioned the SoftBank investment was a US$6-billion deal. However, as some have pointed out, it’s really a US$2-billion deal on top of a previously promised US$4-billion investment.
US$16 billion
The reported investment amount that SoftBank CEO Masayoshi Son called Neumann to say was no longer viable.
“We’re partners. What should we do?”
What Neumann claims Son said to him during a December phone call to share the bad news.
The rebrand
In the statement, Neumann announced that WeWork will be rebranding to The We Company, comprised of three main business units: WeWork, its main office-sharing business; WeLive, its new residential unit; and WeGrow, an evolving business that currently includes an elementary school and a coding academy.
1,000
Number of new engineers the company plans to hire along with more acquisitions and the building out of its residential and education businesses.
Toronto, Vancouver and Montreal
Cities with WeWork locations that have become a hub for startups and organizations like Techstars.
20
The number of WeWork locations the company planned to open in Toronto by 2020, though the seventh location in the city now won’t open until 2021, according to BetaKit.
WeWork declined to comment on its Canadian expansion plans when asked by The Logic this afternoon.
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