Business Wire

WeWork Announces $500 Million Investment For New Entity Focused on Growth and Expansion in Southeast Asia and Korea

7.8.2017 01:00 | Business Wire

Del

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.”

About WeWork

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.

Contact information

Media:
WeWork
Gwen Rocco
press@wework.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

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 Continues to Gain Momentum in First Quarter FY 2017/1818.8.2017 00:04Pressemelding

Behind the strength of its 3-wave strategy, Lenovo’s business transformation continued to gain traction during the first quarter, delivering solid profitability in its core PC and smart devices business, and revenue and profit improvements in targeted growth areas, including the data center and mobile businesses. Fueled by new investments in people and products, Lenovo’s Data Center Group (DCG) introduced the most comprehensive product lineup in its history, with the new ThinkSystem and ThinkAgile portfolio, and continued to build out its end-to-end sales organization. Similarly, Lenovo’s Mobile Business Group launched significant new products led by the Moto Z2 Force, available now on all major U.S. carriers, and ramped up its branding efforts worldwide. “In the first quarter this fiscal year, we had stable performance as we executed our 3-wave strategy with commitment. We

Spirent Tests Wi-Fi Network Performance with O2 at the Coca-Cola London Eye17.8.2017 15:57Pressemelding

Spirent Communications plc (LSE:SPT), today announced its Landslide E10 network test platform has been used with O2 to validate the Wi-Fi network performance and capacity at the Coca-Cola London Eye, before the launch of a new smartphone application last month. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170817005758/en/ Spirent Landslide E10 helped O2 validate Wi-Fi performance and capacity at the Coca-Cola London Eye, before the launch of a new smartphone application last month. (Photo: Busines Wire) Merlin Entertainments plc, operator of the London Eye, wanted to measure its Wi-Fi network performance, to ensure its infrastructure could provide an excellent experience for users of the new app, which puts increased demands on the Wi-Fi network. “The London Eye is a global attractio

Watch BizWireTV: A Camera You Can Wear and Krispy Kreme’s Famous Donuts Get Eclipsed with Chocolate17.8.2017 12:08Pressemelding

On BizWireTV, catch some Quick Biz Hits and see the latest in Star Power. Also see what’s happening in the startup world with the Accelerator Report, featuring the VC Watch and this week’s Startup Standout. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170817005305/en/ BizWireTV is hosted by Jordyn Rolling (Photo: Business Wire Now you can watch BizWireTV, and the latest breakthroughs in tech from the biggest brands, on any screen you want by downloading the new app through the Apple TV and iPhone App Store and Google Play for Android devices. Top of the Wire Introducing FrontRow: the camera re-invented. Watch BizWireTV to see more disruptors as well as the top 5 trending stories of the week! A core c

PsiOxus Therapeutics Announce Two New Board Appointments: New Board Appointments Strengthen Company’s US Presence17.8.2017 07:00Pressemelding

PsiOxus Therapeutics, Ltd. (PsiOxus) today announced the appointment of Charles Rowland and Duncan Higgons to the Board of Directors as part of an ongoing drive to expand in the US. Charles Rowland was most recently the President and Chief Executive Officer (CEO) of Aurinia Pharmaceuticals, a clinical stage pharmaceutical company focused on the global lupus nephritis market. Prior to this, he served as the Vice President and Chief Financial Officer (CFO) of ViroPharma, during which time the company grew into a global biopharmaceutical business with $500 million in annual revenues until it was acquired by Shire plc for $4.2 billion. Before joining ViroPharma, Mr. Rowland was executive Vice President, CFO, and interim co-CEO, for Endo Pharmaceuticals. In his earlier career, Charles held finance and operational positions at Biovail Pharmaceuticals, Breakaway Technologies, Pharmacia

Smarsh Adds Voice Archiving Offering with Acquisition of London-Based Cognia17.8.2017 06:59Pressemelding

Smarsh®, providing information archiving solutions for compliance, e-discovery and risk management, has completed the acquisition of Cognia, a worldwide leader in cloud-based voice archiving, audio search and analytics. Smarsh will leverage Cognia’s intellectual property and development resources to offer its global customer base enhanced capabilities around mobile and fixed-line voice communication – alongside a market-leading range of electronic communications – within The Archiving Platform. The acquisition will expand the existing presence of Smarsh in Europe and is central to its MiFID II compliance solution for financial firms. In addition to capturing incoming and outgoing communication from fixed-line recording solutions, Cognia uniquely captures voice content directly from leading mobile carriers. Carrier-direct capture is the most reliable and automated method for capt

Schlumberger Announces Third-Quarter 2017 Results Conference Call16.8.2017 21:23Pressemelding

Schlumberger Limited (NYSE:SLB) will hold a conference call on October 20, 2017 to discuss the results for the third quarter ending September 30, 2017. The conference call is scheduled to begin at 8:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (800) 288-8967 within North America or +1 (612) 333-4911 outside of North America approximately 10 minutes prior to the start of the call, and ask for the “Schlumberger Earnings Conference Call.” A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call,

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom