WeWork to pump US$500m into SE Asia, S Korea expansion
Singapore
WEWORK Cos, the world's largest provider of shared work spaces, will invest US$500 million in South-east Asia and South Korea, as the New York-based company steps up its expansion in global markets.
As part of the effort, WeWork will acquire Spacemob, a Singapore-based co-working startup founded in early 2016 by entrepreneur Turochas 'T' Fuad and backed by Vertex Ventures and Alpha JWC Ventures. WeWork declined to disclose the value of the deal.
WeWork, which will absorb Spacemob's team of about 20 people, appointed Mr Fuad as its managing director of South-east Asia. WeWork also named Matt Shampine, currently head of marketing and rev…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 HDB shops, private strata retail units on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece