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WeWork bags US$433m to build more coworking spaces

Sam Shead | July 9, 2015
The New York firm has already opened four spaces in London.

WeWork South Bank
WeWork South Bank is home to a range of tech companies and creative agencies, including startup PR firm Clarity PR ©WeWork

Coworking space provider WeWork has raised an additional $433.9 million (£281 million) in funding, according to a new filing with the US Securities and Exchange Commission.

Last month it was reported that WeWork could soon be worth $10 billion (£6 billion).

WeWork was not immediately available for comment but Miguel McKelvey, the company's cofounder, told Techworld last month that he's considering opening UK spaces in areas like Dublin, Glasgow and Manchester. Outside the UK, McKelvely pointed to Amsterdam, Berlin, Stockholm and Paris as possible locations for a WeWork office.

The company, founded in 2010 and headquartered in New York City, now has over 35 workspaces globally. Technology companies are the main occupants, taking up about 40 percent of the space on average.

Its London Moorgate office, which opened last week, is the largest outside the US.

 

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