Sunday, May 19, 2024
HomeWorld NewsUnited States NewsSoftBank invests billions less in WeWork than it originally planned, and now...

SoftBank invests billions less in WeWork than it originally planned, and now WeWork is rebranding

103789445 GettyImages

WeWork is rebranding as The We Company, with plans to move even further beyond office space rentals and launch a bank, according to a new report by Fast Company.

The news comes a day after reports of a new SoftBank investment in the company. SoftBank is planning to invest an additional $2 billion this year, bringing its total investment in the start-up to around $10 billion, according to a person familiar with the talks.

In December, SoftBank considered an additional investment of as much as $16 billion, the person told CNBC, which would’ve made SoftBank a majority stakeholder.

The rebranding appears to be largely contained to marketing at this point. The company is sticking with its main service offerings. But it signals bigger changes down the road, as the company eyes entrance into every facet of urban living.

WeWork currently operates individual and enterprise office rentals on a membership basis, residential living communities — dubbed WeLive — and WeGrow early education schools. Each of those business segments will run as standalone units under the new We Company umbrella, CEO Adam Neumann told Fast Company.

And there’s more to come. Neumann said a service called WeBank is in the works and hinted at past ideas for things like WeSleep and WeSail. The company did not immediately return a request for comment.

9MOBILE: 3462-7856-8201-287

More Related Articles


Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

5 Days Trending

We use cookies to ensure that we give you the best experience on our website.