Flexible office space aggregator, whose signature is space to work for creative, forward-thinking entrepreneurs with innovative ideas, WeWork, has announced a rebranding to The We Co.
In a prepared statement, co-founder and CEO Adam Neumann said the company will consist of three distinct entities — WeWork, WeLive, and WeGrow.
“Through the extended WeWork network and the Meetup community, The We Co. now touches approximately 5 million people around the world, with the funding to reach millions more. We’re driven by the impact we know we can have when we all work together with a shared intention. I am grateful to our employees, members, and our incredible partner in SoftBank for their commitment to our mission,” Neumann said.
The announcement comes on the heels of WeWork's receiving $5 billion from SoftBankGroup Corp. in the form of primary growth capital. Another $1 billion from SoftBank will be used to fund share purchases from investors and employees.
WeWork says that its post-money valuation is now $47 billion.
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