[Press Release] WeWork Announces $200 Million Investment in WeWork China Led by Trustbridge Partners

WeWork, the world’s leading flexible space provider, today announced a $200 million follow-on investment in WeWork China led by Trustbridge Partners. Since 2018, Trustbridge has played a critical role in the company’s development across the region and this investment further cements our continued partnership.

 

In the four years since opening its first location in 2016, WeWork China has grown to more than 100 locations across 12 cities, providing more than 65,000 members with flexible and innovative space solutions. This latest investment will enable WeWork China to continue supporting the diverse and growing ecosystem of entrepreneurs, medium-sized businesses, and enterprise companies across the region. As companies around the world look to reassess their real estate portfolio and adapt to the new needs of workers in a post COVID-19 world, WeWork China will continue to be the partner of choice for world-class, flexible space solutions.

 

“WeWork China has built a business that has cemented WeWork’s position across the region as the market leader in flexible space,” said Sandeep Mathrani, CEO of WeWork. “The value proposition and long-term potential for WeWork is increasingly clear as the demand for flexibility at scale comes to the forefront of businesses around the world. This investment is a testament to our business and in Trustbridge we have truly found the best local partner for WeWork China’s next chapter.”

 

“Having watched the execution of WeWork in Greater China over the past few years, and the growing need for flexibility accelerated by the pandemic, Trustbridge firmly believes the demand that WeWork provides will only continue to increase,” said Feng Ge, Managing Partner at Trustbridge Partners. “Aligning with Trustbridge’s philosophy in adopting a unique ecosystem-driven approach concentrating on the value of physical space, design and helping companies transform, Trustbridge is confident of the growing demand for space-as-a-service as companies in Greater China continue to grow and maximize the unprecedented growth opportunities ahead.”

With immediate effect, Michael Jiang has been appointed as the Acting CEO of WeWork China. Prior to joining Trustbridge Partners as an Operating Partner, Michael Jiang was a Senior Vice President of Meituan-Dianping, one of China’s leading e-commerce platforms for services, where he led various businesses and corporate functions including new retail, user platform, and human resources. Prior to the merger of Meituan and Dianping, Michael served as Vice President of Product & Operations in 2010 and subsequently in 2014 served as the Chief Strategy Officer at Dianping.

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

How to Invest in the Cannabis Industry

How to Invest in the Cannabis Industry

Despite cannabis (also known as weed or marijuana) being illegal in a large part of the world, the global cannabis market was worth US$28.26 billion in 2021 and is expected to grow to US$197.74 billion by 2028. Gone are the days when venture capital firms would dismiss cannabis companies as problematic investments.

Why Crypto Markets Crash and 5 Ways Investors Can Deal

Why Crypto Markets Crash and 5 Ways Investors Can Deal

With more and more people holding cryptocurrencies today, the crypto crash of May 2022 has had severe financial consequences. Reliable currencies, including Bitcoin and Ether, met a terrible fate, as did stablecoins, amounting to losses of over US$300 billion.

How Lemi Is Helping Small Businesses Reach Their Customers

How Lemi Is Helping Small Businesses Reach Their Customers

Starting a business isn’t easy. From finding raw materials and making your products to actually reaching the right customer base, everything takes a lot of time and energy. Even though this process is so hard, a lot of people venture out and start their own businesses, so much so that small business enterprises (SMEs) make up 90% of the world’s businesses.

What Is CateCoin and Is It Legit

What Is CateCoin and Is It Legit?

At a time when meme coins, like Dogecoin and Shiba Inu, are enjoying immense popularity, another cryptocurrency has been laying the groundwork to compete with them: CateCoin.

Companies that Might Accept Crypto Payments in 2022

Companies that Might Accept Crypto Payments in 2022

The cryptocurrency industry is growing rapidly, and with that growth comes increased interest from companies looking to accept crypto payments. While there are already a few major companies that accept cryptocurrency payments, like Microsoft and PayPal, many more are considering following suit.