Business Wire

WeWork Announces $500 Million Series B Investment in WeWork China Led by Trustbridge, Temasek, SoftBank and Hony Capital

Jaa

WeWork Companies (“WeWork”) today announced a $500 million Series B investment in WeWork China led by Trustbridge Partners (“Trustbridge”), Temasek, the SoftBank Group (“SoftBank”), the SoftBank Vision Fund (“Vision Fund”) and Hony Capital. This funding will accelerate WeWork’s growth in China, allowing the company to serve more entrepreneurs, creators, and enterprises across the region through the unparalleled design, technology, hospitality and local community WeWork provides.

In the two years since opening its first location in China, WeWork has become a trusted local partner to creators and businesses of all sizes, providing 20,000 members across nearly 40 locations in three cities with the community, culture, and services to start and scale their operations. WeWork has also enabled more global businesses to have a presence in China, and helped Chinese businesses to both scale within the country and expand around the world. In July 2017, WeWork announced the creation of WeWork China, with a $500 million Series A investment from Hony Capital and SoftBank dedicated entirely to accelerating WeWork’s expansion across China.

“We are grateful to our partners at Trustbridge, Temasek, SoftBank, and Hony for their belief in our vision and their support of our business. This investment will help WeWork fuel our mission to support creators, small businesses and large companies across China. WeWork has built an incredible team in China that supports our members every day, serving as a bridge for local companies who want to reach the world as well as for global companies that want to enter the Chinese market. While there is still much to do and learn, this investment highlights the potential for WeWork and our community of creators in the region and reaffirms our dedication to our team, our members and our partners in China,” said WeWork Co-Founder and CEO Adam Neumann.

“Trustbridge is pleased to join the WeWork China team. Through its thoughtful design, technology, hospitality and most importantly community, WeWork is paving the way for a new future of work in China and supporting the transformation from Made in China to Created in China. Whether entrepreneurs are just starting out, Chinese companies are looking to take their business global, or international enterprises want to do business here, they know WeWork is the local partner they need,” said Feng Ge, Managing Partner of Trustbridge Partners.

“Adam Neumann’s vision has always been for WeWork to be a global company with a local playbook, and nowhere is that more clear than in China where WeWork has developed an impressive offering. From its strong leadership team to locally-tailored technology integrations and community-based design, WeWork has demonstrated that it understands what businesses in China need to succeed. Through this investment, we look forward to WeWork continuing to support many more companies of all sizes across China,” said Ronald D. Fisher, Director, Vice Chairman of SoftBank Group Corp.

“Over the past two years, we’ve seen what WeWork’s growing presence in China can accomplish. WeWork is a global connector bringing entrepreneurs, startups and large enterprise companies from around the world together, a local partner supporting Chinese entrepreneurs and attracting new businesses to invest in China, and an innovator reimagining the workspace through its cutting-edge design, technology and community-focused culture. With our continued investment, we know WeWork will continue to lead in the future of work,” said John Zhao, Chairman and Chief Executive Officer of Hony Capital.

About WeWork

WeWork provides its members around the world with space, community, and services through both physical and virtual offerings. From startups and freelancers to small businesses and Fortune 500 companies, our community is united by a desire for our members to create meaningful work and lead meaningful lives—to be a part of something greater than ourselves. Co-founded by Adam Neumann and Miguel McKelvey in New York City in 2010, WeWork is a privately held company with over 5000 employees. Follow us @WeWork on Twitter, Instagram, and Facebook or visit wework.com to learn more.

About Trustbridge

Trustbridge Partners is a leading growth equity fund that focuses on investing in high-quality growth opportunities in China. Founded in 2006, Trustbridge currently manages approximately $8 billion in assets from leading university endowments, pension funds, sovereign wealth funds, and strategic industry partners. Our investment philosophy is built upon a fundamental understanding of long-term trends in demographics, technology and structural changes. We adopt a unique ecosystem-driven approach and concentrate in the Internet, content / education, and healthcare sectors where we believe our deep insights and strong industry relationships help generate unique investing opportunity sets.

About Temasek

Incorporated in 1974, Temasek is an investment company headquartered in Singapore. Supported by 11 offices internationally, Temasek owns a US$235b portfolio as at 31 March 2018. Our portfolio covers a broad spectrum of industries: financial services; telecommunications, media & technology; transportation & industrials; consumer & real estate; life sciences & agribusiness; as well as energy & resources. Investment activities are guided by four investment themes and the long term trends they represent: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. For more information on Temasek, please visit www.temasek.com.sg

About Hony Capital

Hony Capital, founded in 2003 and sponsored by Legend Holdings, specializes in buyout investment. Partnering with the world’s leading investors, it focuses on the development of China’s real economy with “Value creation, Price Realization” as its investment philosophy. Hony Capital currently has USD 10 billion under management, with investors from China and the world’s leading investment institutions, including national pension funds, sovereign wealth funds, university endowment funds, regional and industry pensions, insurance companies, family foundations, individual investors and other types. Hony Capital puts China as its top market, with investments in over 100 companies in areas of pharmaceutical and healthcare, media and entertainment, consumer products, food and beverage, as well as machinery and equipment manufacturing. Hony Capital’s portfolio companies include China Shijiazhuang Pharmaceutical Group (CSPC), Zoomlion, China International Marine Containers (CIMC), Suning, Chengtou Holding, Jin Jiang International Hotels, ENN, PizzaExpress (UK), STX(US) , WeWork (US) , ofo, COFCO Capital, etc. The assets value of these companies totals about RMB 2.9 trillion with sales volume of RMB 860 billion, providing more than 450,000 jobs.

Contact information

WeWork
Dominic McMullan / Gwen Rocco / Jenny Chan
press@wework.com
or
Trustbridge
Public Relations
pr@trustbridgepartners.com
or
Hony Capital
Victoria Li
victoriali@honycapital.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Biogen and Samsung Bioepis Announce European Launch of IMRALDI™(adalimumab), Solidifying Leadership in European Anti-TNF Market17.10.2018 09:18Tiedote

Biogen (Nasdaq:BIIB) and Samsung Bioepis Co., Ltd. today announced the European launch of IMRALDI™ (adalimumab), a biosimilar referencing HUMIRA®. Starting today, IMRALDI™ will begin launching in major markets across Europe. The launch of IMRALDI™ marks a significant milestone for Biogen and Samsung Bioepis, as the adalimumab product is the third anti-TNF biosimilar developed by Samsung Bioepis to be commercialized by Biogen across Europe. BENEPALI™ (etanercept) and FLIXABI™ (infliximab) were approved in 2016, and have approximately 100,000 patients currently under treatment with more than 6 million doses administered across 25 and 14 countries, respectively.ii “We look forward to increasing patient access to this important medicine by leveraging our industry-leading position in the European anti-TNF market,” said Ian Henshaw, Head of Biogen’s Biosimilars Unit. “The launch of IMRALDI marks what we believe to be a landmark moment for Biogen and Samsung Bioepis and for European healthcar

Durabook Delivers World’s Toughest Semi-Rugged Computer17.10.2018 09:00Tiedote

Durabook, the global brand fully owned by Twinhead International Corporation, has today introduced the most durable semi-rugged computer ever created. The Durabook S14I greatly exceeds all existing devices in its class in both drop height and IP ratings. Built with 8th generation Intel® CPU and a wide selection of I/O options, the S14I is ideal for demanding working environments of public safety, government, military and field service. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181016006151/en/ Durabook S14I Features Class-Leading Drop Height and IP Ratings along with 8th Generation Intel CPU Power (Photo: Business Wire) “As the definition of the modern workplace expands, the line between what is office and what is field are often becoming blended” said Fred Kao, CEO of Twinhead. “So we are blending the line between what is a semi-rugged and what is a fully-rugged. Under the form factor of a traditional semi-rugged lapto

DIA Drives Debates and Solutions at the Crossroads of Healthcare17.10.2018 09:00Tiedote

DIA, founded as the Drug Information Association, announced three keynote speakers for the upcoming DIA Europe 2019 annual meeting: Dave deBronkart, ‘e-Patient Dave’; Hans Lehrach, Director at the Max Planck Institute for Molecular Genetics; and Kristel Van der Elst, CEO, The Global Foresight Group. The diversity of experience brought by these three leaders is reflective of the meeting mission to ensure industry, payers, patients, and regulators all have an equal voice in the debates advancing regulatory science and access to healthcare. These keynote speakers will join 300 speakers in more than 80 sessions, across seven thought leadership streams to drive collaborative answers in medicines development and access to healthcare. Highlights from sessions include Guido Rasi, Executive Director, EMA, will present first look strategies for 2021-2025 during the European Regulatory Town Hall and Niklas Hedberg, Chair EUnetHTA Executive Board, will feature case studies of Real World Evidence i

SailPoint’s Latest SaaS Release Makes Security and Compliance Accessible to All Enterprises17.10.2018 08:01Tiedote

SailPoint Technologies Holdings, Inc. (NYSE: SAIL), the leader in enterprise identity governance, unveiled a series of new innovations in IdentityNow, the industry’s most comprehensive SaaS identity governance platform. Enhancements have been made with an eye towards both closing security and compliance gaps and simplifying identity implementations for organizations who may not have dedicated identity teams and resources. New in IdentityNow is the Dynamic Discovery Engine, an innovation that allows users to easily and quickly create policies, access reviews, dashboards and reporting. As a result, IdentityNow customers are better able to address the mounting security and compliance challenges that all enterprises face today. “When we started our identity governance journey, a key requirement for us was the ability to automate identity processes where we could, while improving our audit and compliance track record,” said Michael Boucher, Sr. Director, Information Risk Management, FTD. “W

Ferring and Evotec Form Strategic Research Alliance in Reproductive Medicine and Women’s Health17.10.2018 08:00Tiedote

Ferring Pharmaceuticals and Evotec AG (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809) today announced a strategic research alliance to discover and develop new small molecule therapies to treat patients living with fertility and gynaecological conditions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181016005907/en/ Evotec will apply its drug discovery platform to design novel and efficacious treatments in partnership with Ferring. The multi-target, multi-year collaboration aims to deliver small molecule pre-clinical development (PDC) and investigational new drug (IND) ready candidates. As part of the alliance, Evotec is eligible for undisclosed research funding and milestones. “To achieve leadership in reproductive medicine and women’s health, we are expanding beyond our historical expertise in peptides and tackling molecular targets that are best addressed using small molecule therapeutics,” said Per Fal

IWBI Launches Global Network of Advisors for WELL Portfolio16.10.2018 21:00Tiedote

The International WELL Building Institute™ (IWBI™) today announced the formation of a global advisory to help shape and advance the implementation of the WELL Portfolio™ Pathway pilot, a new streamlined pathway for WELL Certification™ for multiple new or existing buildings and tenant spaces in a single portfolio. WELL Portfolio, announced this past month, is being released as part of the WELL v2™ pilot, the latest iteration of the WELL Building Standard™ (WELL™). It is part of a suite of enhancements to WELL that addresses growing demand across the building industry for a program that helps owners, developers and tenants streamline and scale health and wellness upgrades to their real estate assets. The advisory includes a collection of professionals, practitioners and experts across a range of industries and sectors, each serving a one-year term. “Since we launched WELL, we’ve seen an explosion of interest from global companies to bring the same health and wellness benefits across thei

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme