WeWork China
Funding History
| Series A (2017) · 07/2017 | $500M |
|---|---|
| Series B (2018) · 07/2018 | $500M |
| Trustbridge-Led Buyout Round (2020) · 09/2020 | $200M |
About
WeWork China provides flexible and co-working office space, along with community and enterprise workspace-management services, across major Chinese cities including Shanghai, Beijing, Guangzhou, Shenzhen, Hong Kong, Hangzhou, Suzhou, Nanjing, Wuhan, Chengdu and Xi'an.
- CEO
- Michael Jiang (Acting CEO)
- Headquarters
- Shanghai, China
- Founded
- 2016 (China market entry); independent since 2020
- Website
- wework.cn
Overview
WeWork China is an independently owned and operated flexible-workspace company that uses the WeWork brand under license across mainland China and Hong Kong. It was spun out of the U.S.-based WeWork in 2020, when Shanghai-based growth equity firm Trustbridge Partners led a $200 million investment that gave a Trustbridge-led consortium control of the China business while WeWork Global retained a minority stake and a board seat. The company, whose operations are run through its Flex Office entity, has said it operates independently of WeWork Global's finances and governance, a separation that meant WeWork's November 2023 U.S. Chapter 11 bankruptcy filing did not directly affect WeWork China's business. As of its August 2023 brand-license renewal, WeWork China described itself as running dozens of communities across roughly a dozen Chinese cities, serving thousands of corporate clients and tens of thousands of members.
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