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.