WeWork Becomes World’s Fifth Most-Valuable Startup
- Fresh $760 million follows SoftBank’s $300 million commitment
- Deal is said to bring WeWork’s valuation to $20 billion
Lobby of WeWork branch in Shanghai.
Source: Xinhua News Agency/Getty ImagesThis article is for subscribers only.
WeWork Cos. raised $760 million in a funding round that places the co-working business among the world’s five most-valuable technology startups.
The New York-based company, which rents desk space to freelancers and businesses, is valued at about $20 billion after the investment, said a person familiar with the matter. The valuation matches that of Peter Thiel’s Palantir Technologies Inc., which will now share the distinction of fifth-most-valuable privately held startup with WeWork, according to research firm CB Insights.