- Companies
- WeWork China
WeWork China Revenue, Valuation, Funding & Investors
WeWork China is valued at $1B as of September 2020, a 10.6x revenue multiple. WeWork China revenue was $94M, as disclosed with its latest round.
Last WeWork China valuation
$1B
Undisclosed stage · Sep 2020
Last WeWork China funding round
$200M
Undisclosed stage · Sep 2020
WeWork China revenue
$94M
Undisclosed stage · Sep 2020
Key investors in WeWork China
SoftBank Group
Trustbridge Partners
Hony Capital
Goldman Sachs
Temasek
Fidelity
About WeWork China
WeWork China is a flexible workspace provider operating in key Chinese cities such as Shanghai, Beijing, and Shenzhen. Launched in July 2017 as a subsidiary of the global WeWork network, it delivers shared offices, dedicated desks, private suites, and enterprise solutions tailored for startups, freelancers, and corporations. The operation emphasizes community-building events and on-demand office services amid China's dynamic entrepreneurial landscape. Following global restructuring, WeWork China maintains locations in premium business districts with customized amenities for local professionals.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$94M (Sep 2020)
Valuation
$1B (Sep 2020)
Sectors
WeWork China Valuation
WeWork China is currently valued at $1B, based on its undisclosed-stage round in September 2020.
The $200M round was led by Trustbridge Partners.
WeWork China's valuation has moved from $1B at its Series A in July 2017 to $1B in September 2020, across 3 priced rounds.
WeWork China valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2020 | Undisclosed stage | $1B | 10.6x |
| Jul 2018 | Series B | $5B | - |
| Jul 2017 | Series A | $1B | - |
WeWork China Revenue
WeWork China's latest recorded revenue is $94M, as of its undisclosed-stage round in September 2020. At a $1B valuation, that implies a 10.6x revenue multiple.
WeWork China revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2020 | $94M | $1B | 10.6x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
WeWork China Funding History
WeWork China has raised a total of $1.2B across 3 funding rounds.
WeWork China's first fundraising round was a $500M Series A in July 2017. The most recent completed round was a $200M undisclosed-stage round in September 2020.
WeWork China funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2020 | Undisclosed stage | Trustbridge Partners (lead) | $200M | $1B | WeWork China, the Chinese operations of the global flexible workspace provider WeWork, secured a $200 million follow-on investment led by Trustbridge Partners on September 24, 2020. This Series B-II round resulted in Trustbridge assuming operational control, with WeWork relinquishing majority stake and appointing Trustbridge operating partner Michael Jiang as acting CEO. The investment aims to localize operations, partnering with local communities, real estate firms, and Chinese enterprises amid post-COVID demand for flexible space-as-a-service. Prior to the deal, in January 2020, Trustbridge and Temasek Holdings were in talks to acquire a majority stake valuing WeWork China at $1 billion, down from its $5 billion valuation in September 2018. The unit had expanded rapidly since 2016, opening over 100 locations across 12 cities and hosting over 65,000 members. WeWork's Greater China region generated $93.56 million in revenue during the first half of 2019, representing 6% of the parent company's total revenue, with US and UK operations contributing the majority. The investment reflects WeWork's strategic retreat from aggressive expansion in China following its global downturn, where its valuation fell from $47 billion to $2.9 billion. Trustbridge, which first backed WeWork China in its 2018 Series B, sees growing demand driven by companies reassessing real estate portfolios in a post-pandemic world. Total funding raised by WeWork China reached $1.2 billion across three rounds, with Trustbridge as a repeat investor alongside SoftBank, Hony Capital, and Temasek. |
| Jul 2018 | Series B | SoftBank Group (lead); Trustbridge Partners (lead); Temasek; Hony Capital | $500M | $5B | WeWork China, the Chinese subsidiary of WeWork focused on co-working spaces, raised $500 million in a Series B round on July 26, 2018, from investors including SoftBank Vision Fund, Trustbridge Partners, Hony Capital, and Temasek Holdings, with SoftBank Vision Fund and Trustbridge Partners as leads. This round valued WeWork China at a post-money valuation of $5 billion. The funding supported expansion in China, where WeWork China had been spun out from the global WeWork business about a year prior and had already raised around $1 billion overall by mid-2018. By July 2018, WeWork China operated as a key part of WeWork's international growth strategy amid a competitive Chinese co-working market. Rivals like Ucommune raised $43.5 million shortly after at a $1.8 billion valuation, managing 160 locations across 35+ cities, while WeWork had acquired competitors like Naked Hub for around $400 million. The market saw consolidation with multiple players emerging and some failing. Global WeWork reported $1.82 billion revenue in 2018, doubling from 2017, but with $1.9 billion net losses. WeWork China later raised a $200 million Series B-II in September 2020, and a majority stake was sold for $200 million that year. |
| Jul 2017 | Series A | SoftBank Group (lead); Wellington Management; Fidelity; Aleph; Benchmark; T. Rowe Price; Greenland Hong Kong Hldgs; Legend Hldgs; Goldman Sachs; JPMorgan Chase; Hony Capital; China Oceanwide | $500M | $1B | On July 27, 2017, WeWork China announced a $500 million investment from SoftBank Group and Hony Capital (the private equity arm of Beijing's Legend Holdings) to accelerate expansion in China. This investment was part of WeWork's broader Asia growth strategy alongside the $1.4 billion that SoftBank and the Vision Fund committed to three regional subsidiaries: WeWork China, WeWork Japan, and WeWork Pacific. Hony Capital had first partnered with WeWork for China expansion in March 2016, establishing an ongoing relationship that continued through this 2017 round. At the time of this investment, the parent company WeWork was valued at approximately $17 billion excluding the new investments, having grown to over 163 co-working centers globally including 12 locations across Shanghai, Beijing, Hong Kong, and South Korea after launching its first Asian center in Shanghai in August 2016. |
Who has invested in WeWork China?
14 investors have backed WeWork China across its funding rounds, including SoftBank Group, Trustbridge Partners, Hony Capital, Goldman Sachs, Temasek and Fidelity.
Lead investors include Trustbridge Partners and SoftBank Group.
WeWork China Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jul 2018 | ||
| 2 | Lead | Jul 2017 | ||
| 2 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2018 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2017 | ||
This data is available for Pro users. Sign up to see all 14 WeWork China investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialWeWork China Competitors
WeWork China competitors include listed companies like Wework India Management, Smartworks Coworking, Framery Group and IWG, and private ones like Kr Space and 5Lmeet.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $255M | $165M | $987M | 5.4x | ||
| Private | - | - | $1.3B | - | ||
| Publicly listed | $187M | $121M | $653M | 5.4x | ||
| Publicly listed | $255M | $54M | $602M | 2.7x | ||
| Publicly listed | $3.8B | $487M | $2.3B | 2.5x | ||
| Private | - | - | $435M | - |
WeWork China Public Comps
WeWork China is still privately-owned, but its public comps include Wework India Management, Smartworks Coworking, Framery Group, Servcorp, Awfis Space Solutions, WOTSO Flexspace, Dev Accelerator, One Experience, IWG and WillScot.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $255M | $165M | 6.0x | 5.4x | 9.3x | 8.3x | |||
| $187M | $121M | 6.1x | 5.4x | 9.5x | 30.8x | |||
| $255M | $54M | 2.7x | 2.7x | 12.7x | 10.2x | |||
| $249M | $67M | 2.2x | 2.1x | 8.1x | 3.5x | |||
| $156M | $62M | 2.3x | 2.0x | 5.7x | 5.6x | |||
| $35M | $13M | 4.6x | - | 12.0x | - | |||
| $24M | $11M | 2.8x | - | 5.7x | - | |||
| $5M | $106K | 1.6x | - | 77.5x | - | |||
This data is available for Pro users. Sign up to see all WeWork China competitors and their valuation data. Start Free Trial | ||||||||
Common questions about WeWork China
| When was WeWork China founded? | WeWork China was founded in 2017. |
| Where is WeWork China headquartered? | WeWork China is headquartered in Shanghai, China. |
| Is WeWork China publicly listed? | No, WeWork China is a private, VC-backed company. |
| What is WeWork China's valuation? | WeWork China was last valued at $1B in its undisclosed-stage round in September 2020. |
| How much funding has WeWork China raised? | WeWork China has raised $1.2B across 3 funding rounds. |
| What was WeWork China's last funding round? | WeWork China's last funding round was a $200M undisclosed-stage round in September 2020, led by Trustbridge Partners. |
| Who are WeWork China's investors? | WeWork China's investors include Trustbridge Partners, SoftBank Group, Hony Capital, Temasek, Wellington Management, Fidelity, Aleph, Benchmark, T. Rowe Price, Greenland Hong Kong Hldgs and 4 others. |
| What is WeWork China's revenue? | WeWork China's latest recorded revenue is $94M (September 2020). |
| What is WeWork China's revenue multiple? | WeWork China's latest valuation implies a 10.6x revenue multiple ($1B valuation on $94M of revenue). |
| Which companies are comparable to WeWork China? | Companies comparable to WeWork China include Wework India Management, Kr Space, Smartworks Coworking, Framery Group, IWG and 5Lmeet. |
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