Adam Neumann, the Israeli born 35 year old founder and CEO of WeWork , disclosed a $433.9 million round of funding in a new document filed with the U.S. Securities and Exchange Commission.
In December, when it was reported that WeWork had raised $355 million, the company’s valuation approached $5 billion. Now, the company is valued at $10 billion, according to the Wall Street Journal.
Such valuations are based on how big a share in a company was acquired for the invested funds, not the total amount invested.
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WeWork started in 2010 and is based in New York. The company has coworking spaces in Austin, Texas; Berkeley, Calif.; Boston; Chicago; Miami; Los Angeles; New York City; Philadelphia; Portland, Ore.; San Francisco; and Washington, D.C. International locations are in Israel, the Netherlands, and the United Kingdom.
WeWork allows individual workers to “colocate” alongside startups and even teams within larger companies. The startup’s mobile app allows members to book rooms at all of WeWork’s locations.
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