WeWork Reportedly Buys Naked Hub for $400 Million
Photo source: thenextweb.com
According to Bloomberg.com and other sources, WeWork is buying Chinese co-working startup Naked Hub for a reported $400 million.
Valued at around $20 billion, New York-based WeWork is currently the largest co-working company in the world. Their expansion throughout Asia in recent months has been quite aggressive, particularly since their acquisition of Singapore-based company SpaceMob this past August, and now Naked Hub, their second move within the co-working space in the region.
Headquartered in Shanghai, Naked Hub currently operates approximately 50 locations throughout mainland China, Hong Kong and Vietnam.
Sources:
https://www.bloomberg.com/news/articles/2018-04-11/wework-is-acquiring-china-s-naked-hub-for-400-million
https://www.chinamoneynetwork.com/2018/04/11/wework-to-acquire-chinese-co-working-firm-naked-hub-for-400m
https://www.nytimes.com/reuters/2018/04/11/business/11reuters-nakedhub-m-a-wework.html
Related Articles
Alibaba Buys Ele.me, Meituan Buys Mobike