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WeWork announces $500 million investment for new entity focused on enlargement and enlargement in Southeast Asia and Korea

Acquires Spacemob to Accelerate Growth in Southeast Asia

Turochas “T” Fuad, Spacemob Founder and CEO, allocated Managing Director, Southeast Asia; Matt Shampine allocated General Manager, Korea

NEW YORK SINGAPORE–(Antara/BUSINESS WIRE)– WeWork is vehement to announce a $500 million investment in a new entity focused on fueling a enlargement and enlargement in Southeast Asia and Korea.

This investment underlines a intensity for WeWork in Asia and follows on a heels of WeWork’s other new investment news from a region: a $500 million investment with SoftBank and Hony Capital dedicated to WeWork’s enlargement opposite China, and a corner try with SoftBank to move WeWork’s transformational village to Japan.

WeWork is also anxious to announce that it will acquire Singapore-based coworking association Spacemob, including a owner and CEO, Turochas “T” Fuad, and his team. Fuad will turn Managing Director of Southeast Asia for WeWork and will manage a company’s enlargement in a region.

Fuad founded Spacemob in early 2016 and fast grew a association to mixed locations in Singapore, with spaces in Indonesia and Vietnam scheduled to open soon. Prior to first Spacemob in early 2016, Fuad founded and sole dual startups: WUF Networks and Travelmob. Fuad also hold comparison roles in Southeast Asia and Asia Pacific for Yahoo! and Skype, respectively.

Matt Shampine, now Head of Marketing and Revenue for Asia, has been allocated General Manager of Korea for WeWork. Shampine creatively assimilated WeWork in 2010 as a member and his digital group went on to be a first member of WeWork Labs. In 2013, he assimilated WeWork as an employee, primarily as Director of Strategic Partnerships. More recently, Shampine has played a pivotal purpose in WeWork’s entrance and successive enlargement in Asia.

Both Fuad and Shampine will news to Christian Lee, Managing Director of WeWork Asia.

Miguel McKelvey, Co-Founder and Chief Culture Officer of WeWork, said: “Today’s proclamation reaffirms WeWork’s joining to scaling a business opposite Asia. We are vacant and shamed by a response to WeWork so distant and demeanour brazen to stability to build a colourful and different village in a fast elaborating region. To be partial of WeWork is to be connected to one of a many suggestive business networks in a universe and we are vehement to entice new members from some of a many artistic and innovative cities on a globe. we pronounce for a whole WeWork group and a 130,000 members when we contend we am impossibly vehement to have T and a group from Spacemob join us in a goal to emanate a universe where people work to make a life, not only a living.”

Christian Lee, Managing Director of WeWork Asia, said: “I’m gay to acquire T and Matt to a Asia government team. Both are seasoned entrepreneurs with low roots in Southeast Asia and they will be useful as we scale a business opposite a region. Matt’s WeWork knowledge — as both a member and an worker — will be vicious as we enhance a offerings in Korea. With Spacemob, T and his group will accelerate a efforts to settle WeWork in pivotal Southeast Asia markets. The Spacemob business that T has built is a covenant to him and his team’s capabilities.”

Turochas “T” Fuad, Managing Director of Southeast Asia for WeWork said: “WeWork’s purpose-driven proceed to providing businesses of any distance with a space, community, and services they need to flower is but equal. we could not be some-more unapproachable to lead WeWork’s enlargement in Southeast Asia. The segment represents tighten to 9 percent of a world’s population, it is an sparkling marketplace full of budding entrepreneurs, enterprises and creators, and that is a large event for WeWork. we know that we will have a suggestive impact on these communities. My group and we can't wait to get started on what promises to be an implausible journey.”

Matt Shampine, General Manager of Korea for WeWork said: “It has been sparkling to launch WeWork in Asia and to see a WeWork prophesy and village take figure here. To see a approach new members have grasped WeWork’s core values has been inspiring, educational and fun. The segment has so most potential, we have no doubt that stream and destiny WeWork members in Asia — and generally in Korea — will flower and minister in a certain and suggestive approach to WeWork’s tellurian community. It’s going to be sparkling to be partial of it and I’m prepared for a challenge.”

About WeWork

WeWork is a village for creators, providing some-more than 130,000 members around a universe with space, community, and services by both earthy and practical offerings. WeWork’s goal is to assistance emanate a universe where people work to make a life, not only a living. WeWork now has some-more than 163 locations in 52 cities and 15 countries around a world. WeWork, started in New York City in 2010, was founded by Adam Neumann and Miguel McKelvey.

View source chronicle on businesswire.com: http://www.businesswire.com/news/home/20170806005030/en/

Contacts

Media:
WeWork
Gwen Rocco
press@wework.com

Source: WeWork

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