Venture Capital

WeWork Raises Funds at $16 Billion Valuation for Asia Expansion

Shared office space startup raised $430 million from Chinese investors.

Members work in one of the many unique spaces at WeWork in New York on Sept. 2, 2015.
Photographer: Cole Wilson/The New York Times via R

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Ellen Huet

March 9, 2016 at 11:16 PM UTC

This article is for subscribers only.

WeWork Cos., a New York-based shared-office startup, raised $430 million from Chinese investors as it prepares to expand throughout Asia. Investors valued the company at $16 billion as part of the financing round, according to a person familiar with the matter, who asked not to be identified because the terms were private.

Chinese investment firms Legend Holdings and Hony Capital led the round, WeWork said. The real estate startup's website lists China, Hong Kong, India, and Seoul among the places where it will offer service "soon." John Zhao, the chief executive officer at Hony Capital, said in a statement that WeWork's "fit for the Chinese culture is unparalleled."