WeWork gets $150 million investment from Cushman & Wakefield
Real estate services company Cushman & Wakefield said it had invested $150 million in WeWork Inc, days after the office-sharing firm started trading on the New York Stock Exchange following a merger with a blank-check company. The investment comes months after the two companies announced a partnership to help expand the suite of WeWork's offerings. As part of the investment, Cushman & Wakefield's Chief Investment Officer Nathaniel Robinson will join WeWork's board as an observer. Backed by Japanese investment giant SoftBank Group Corp and once considered a prized bet for the conglomerate's chief Masayoshi Son, WeWork saw a plunge in its valuation due to concerns over its corporate governance and heavy losses. WeWork struck a $9 billion deal in March with BowX Acquistion Corp, a special purpose acquisition company, to take it public, nearly two years after a failed attempt at an initial public offering.
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