WeWork Companies, a dealer in office space rentals announced that it closed a $355 million funding round. The company is now valued at around $5 billion. Adam Neumann, the Israel born 35 year old founder and CEO of WeWork , hopes that the company can attract those who need office space.
“We happen to need buildings just as Uber happens to need cars, just like Airbnb happens to need apartments, ” said Mr. Neumann in a press release.
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WeWork sounds a bit like real estate company, but it behaves more like a tech company or a high-momentum growth stock. The company has a $150 million annual revenue run rates. It has huge growth prospects. It has also leased 1.6 million square feet in New York, and that makes it the fastest growing company of its kind in the city. WeWork expects to expand this amount to 3.5 million square feet annually by the latter part of 2015.
