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WeWork buys Naked Hub for $400 million

Deal will help accelerate expansion in Asia

Naked Hub Founder Grant Horsfield (Credit: Naked Hub)

WeWork has acquired Chinese co-working startup Naked Hub for around $400 million, according to Bloomberg. This signifies WeWork’s strategic expansion to Asia.

The Backdrop: The main chinese rival in the co-working space is Ucommune. The firm was formerly known UrWork before WeWork sued over trademark claims. 

Why it matters: When Softbank invested $4.4 billion at a $20 billion valuation, these are the investments they had in mind. Good deal.

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