Structured as a subsidiary
WeWork’s Chinese subsidiary has raised $500 million in a Series B Round to further accelerate its expansion. Investors include Trustbridge Partners, Temasek, SoftBank, SoftBank’s Vision Fund, and Hony Capital, according to Bloomberg.
Flashback: WeWork acquired Chinese co-working startup Naked Hub earlier this year for around $400 million. WeWork China now boasts over 40 locations and 20,000 members.
Why it matters: Adam Neumann does it again. He creatively divided the company’s Chinese subsidiary, which allowed him to raise this round of equity independent of WeWork.