WeWork Announces $500 Million Investment For New Entity Focused on Growth and Expansion in Southeast Asia and Korea
WeWork is excited to announce a $500 million investment in a new entity focused on fueling its growth and expansion in Southeast Asia and Korea.
This investment underlines the potential for WeWork in Asia and follows on the heels of WeWork’s other recent investment news from the region: a $500 million investment with SoftBank and Hony Capital dedicated to WeWork’s expansion across China, and a joint venture with SoftBank to bring WeWork's transformational community to Japan.
WeWork is also thrilled to announce that it will acquire Singapore-based coworking company Spacemob, including its founder and CEO, Turochas “T” Fuad, and his team. Fuad will become Managing Director of Southeast Asia for WeWork and will oversee the company’s expansion in the region.
Fuad founded Spacemob in early 2016 and quickly grew the company to multiple locations in Singapore, with spaces in Indonesia and Vietnam scheduled to open soon. Prior to founding Spacemob in early 2016, Fuad founded and sold two startups: WUF Networks and Travelmob. Fuad also held senior roles in Southeast Asia and Asia Pacific for Yahoo! and Skype, respectively.
Matt Shampine, currently Head of Marketing and Revenue for Asia, has been appointed General Manager of Korea for WeWork. Shampine originally joined WeWork in 2010 as a member and his digital agency went on to be a founding member of WeWork Labs. In 2013, he joined WeWork as an employee, initially as Director of Strategic Partnerships. More recently, Shampine has played a key role in WeWork’s entry and subsequent expansion in Asia.
Both Fuad and Shampine will report to Christian Lee, Managing Director of WeWork Asia.
Miguel McKelvey, Co-Founder and Chief Culture Officer of WeWork, said: “Today's announcement reaffirms WeWork's commitment to scaling our business across Asia. We are amazed and humbled by the response to WeWork so far and look forward to continuing to build our vibrant and diverse community in the rapidly evolving region. To be part of WeWork is to be connected to one of the most meaningful business networks in the world and we are excited to invite new members from some of the most creative and innovative cities on the globe. I speak for the entire WeWork team and our 130,000 members when I say I am incredibly excited to have T and the team from Spacemob join us in our mission to create a world where people work to make a life, not just a living.”
Christian Lee, Managing Director of WeWork Asia, said: “I’m delighted to welcome T and Matt to the Asia management team. Both are seasoned entrepreneurs with deep roots in Southeast Asia and they will be invaluable as we scale the business across the region. Matt’s WeWork experience -- as both a member and an employee -- will be critical as we expand our offerings in Korea. With Spacemob, T and his team will accelerate our efforts to establish WeWork in key Southeast Asia markets. The Spacemob business that T has built is a testament to him and his team's capabilities.”
Turochas “T” Fuad, Managing Director of Southeast Asia for WeWork said: “WeWork’s purpose-driven approach to providing businesses of any size with the space, community, and services they need to thrive is without equal. I could not be more proud to lead WeWork’s expansion in Southeast Asia. The region represents close to nine percent of the world’s population, it is an exciting market full of budding entrepreneurs, enterprises and creators, and that is a massive opportunity for WeWork. I know that we will have a meaningful impact on these communities. My team and I cannot wait to get started on what promises to be an incredible journey.”
Matt Shampine, General Manager of Korea for WeWork said: “It has been exciting to launch WeWork in Asia and to see the WeWork vision and community take shape here. To see the way new members have grasped WeWork’s core values has been inspiring, educational and fun. The region has so much potential, I have no doubt that current and future WeWork members in Asia -- and especially in Korea -- will thrive and contribute in a positive and meaningful way to WeWork’s global community. It’s going to be exciting to be part of it and I’m ready for the challenge.”
WeWork is a community for creators, providing more than 130,000 members around the world with space, community, and services through both physical and virtual offerings. WeWork’s mission is to help create a world where people work to make a life, not just a living. WeWork currently has more than 163 locations in 52 cities and 15 countries around the world. WeWork, started in New York City in 2010, was founded by Adam Neumann and Miguel McKelvey.
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Lenovo Attains Status as Largest Global Provider of TOP500 Supercomputers25.6.2018 07:01 | Pressemelding
Today, at the International Supercomputing Conference (ISC) in Frankfurt, Lenovo Data Center Group (HKSE: 992) (ADR: LNVGY) continued its global momentum, becoming the world’s largest TOP500 supercomputing provider measured by the number of systems ranked on the TOP500 list. 117 of the 500 most powerful supercomputers included in the TOP500 are Lenovo installations, meaning nearly one out of every four systems (23.4 percent) on the prestigious list is a Lenovo solution. “Last year, we set a goal to become the world’s largest provider of TOP500 computing systems by 2020. We have reached that goal two years ahead of our original plan,” said Kirk Skaugen, President of Lenovo Data Center Group. “This distinction is a testament to our commitment to prioritize customer satisfaction, deliver cutting edge innovation and performance and be the world’s most trusted data center partner. We are motivated every day by the scientists and their groundbreaking research as we work together to solve hum
XebiaLabs Unveils “Periodic Table of DevOps Tools” v.3 at DevOps Enterprise Summit London 201825.6.2018 07:00 | Pressemelding
XebiaLabs, the recognized leader in Enterprise DevOps and Continuous Delivery software, today announced the release of The Periodic Table of DevOps Tools v.3, an update of its free, industry-recognized DevOps landscape tool. The latest release of this acclaimed tool features 52 new DevOps tools, a new design, and the addition of categories, such as Analytics and AIOps, to reflect the expanding DevOps tools and technologies market. In addition, users can select a tool in the Periodic Table and immediately visualize it in the software delivery pipeline using XebiaLabs’ integrated DevOps Diagram Generator. DevOps pipeline diagrams can be easily customized, downloaded, printed, and shared. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180625005106/en/ XebiaLabs Unveils “Periodic Table of DevOps Tools” v.3 at DevOps Enterprise Summit London 2018 (Graphic: Business Wire) Given the fast pace at which new DevOps tools become availa
Enterprise DevOps for the Cloud25.6.2018 07:00 | Pressemelding
XebiaLabs, the recognized leader in enterprise DevOps and Continuous Delivery software, today announced a DevOps framework that provides a smooth pathway to the cloud for companies who are moving applications to cloud-based resources on a large scale. The framework connects enterprise DevOps practices with common cloud management functionality and provides an essential foundation as enterprises accelerate their transformations to cloud-based applications. Cloud Does Not Equal DevOps Easy access to public cloud technologies creates a common misconception: moving to the cloud will not only provide more flexible and scalable infrastructure at a lower cost, but it will also accelerate the delivery of applications to the customer. In reality, moving to the cloud is just one step in that journey. Enterprises that are looking to improve and accelerate software delivery are implementing DevOps practices that span the entire software delivery value stream. These practices are generally unrelate
Pierre Fabre & Array BioPharma Announce a 62% Observed OS at One Year from the Phase 3 BEACON CRC Safety Lead-In of the Combination of Encorafenib, Binimetinib and Cetuximab in BRAF-Mutant CRC at the ESMO GI Congress23.6.2018 11:00 | Pressemelding
Not intended for UK- and US-based media Pierre Fabre and its partner Array BioPharma Inc. today announced updated safety and efficacy results, including OS, from the safety lead-in of the Phase 3 BEACON CRC trial evaluating the triplet combination of encorafenib, a BRAF inhibitor, binimetinib, a MEK inhibitor and cetuximab, an anti-EGFR antibody, in patients with BRAF V600E -mutant metastatic colorectal cancer (CRC). The results showed that, at the time of analysis, the OS data were fully mature through 12.6 months and that the median OS had not yet been reached. The one-year overall survival rate for this cohort was 62%. These data were presented in an oral presentation on Saturday, June 23, at the ESMO 20th World Congress on Gastrointestinal Cancer in Barcelona, Spain. The median progression-free survival (mPFS) for patients treated with the triplet was 8 months [95% CI 5.6-9.3] and is similar between patients receiving one prior line of therapy and patients receiving two prior lines
Compelling Data for LONSURF® (trifluridine/tipiracil) in Metastatic Colorectal Cancer Presented at ESMO’s World Congress on Gastrointestinal Cancer by Servier and Taiho23.6.2018 08:10 | Pressemelding
Servier and Taiho Pharmaceutical Co., Ltd. today announced that the TASCO-1 trial demonstrated promising results for LONSURF® (trifluridine/tipiracil) in combination with bevacizumab in patients with previously untreated metastatic colorectal cancer (mCRC) who are not suitable for intensive treatment, with a median progression-free survival (PFS) of 9.2 months (ranging from 7.6 to 11.5 months). A second non-comparative arm in the trial, evaluated the outcome of patients treated with the current standard of care of capecitabine in combination with bevacizumab. The median PFS of this arm was 7.8 months (ranging from 5.5 to 10.1 months). “Colorectal cancer is the third most common cancer in the world. While there has been some progress in treatment, there are still few options for patients with metastatic disease who are not suitable for intensive treatment,” said Professor Eric Van Cutsem, Head of Digestive Oncology at the University of Leuven, Belgium. “These compelling results suggest
Softomotive and Accelerate RPA Partner to Help Enterprises Achieve Faster Time to Value from RPA22.6.2018 15:13 | Pressemelding
Softomotive, a world–class Robotic Process Automation (RPA) technology provider offering best time to value and affordability for all sizes and types of enterprises, is pleased to announce a strategic partnership with AccelerateRPA, a high calibre professional services provider of trained and certified RPA Consultants within Robotic Process Automation. This partnership means that customers and end users of Softomotive’s software, will have additional knowledgeable and professional guidance available to help achieve significant value quickly from their investment in RPA. Companies who are looking to implement Softomotive’s RPA product suite (WinAutomation and ProcessRobot software) will now have direct access to AccelerateRPA’s highly skilled consultants and Developers. Further, AccelerateRPA has also become a licensed reseller of Softomotive’s products, offering customers a single point of contact for delivering both RPA software and services. Ashley Hudson, Director of AccelerateRPA,