Sofbank to lend a hand to WeWork through its operations in Latin America
Softbank reached out to its holding company We work in Latin America, as the coworking space provider struggles to find clients amid the rise of remote working.
As a first step, Softbank brought in Claudia Woods, former CEO of Uber Brazil, to lead WeWork’s operations in the region.
The Japanese conglomerate has gained both name and fame in Latin America, having invested nearly US $ 3 billion in various tech startups, including Rappi, Banco Inter and Gympass, in just three years.
Analysts say Softbank is uniquely positioned to leverage its contacts and resources for WeWork’s success. Softbank regional director Marcelo Claure said the venture capital fund was “the perfect partner” for WeWork in Latin America.
“As part of our process of selecting outstanding companies for our SoftBank Latin America portfolio, we saw great potential to leverage our capital and operations expertise, bringing together an attractive offering for this joint venture,” said said Claure, who is also the representative for WeWork. President.
The coworking space provider arrived in Latin America with a facility in Mexico City in 2016. Today, its footprint in the region has grown to over 90 buildings in 18 cities, and its membership has grown. to 60,000.
“In the past four months alone, the Latin American market has seen a double-digit increase in occupancy rate to almost 50% as businesses in the region turn to flexible solutions,” the supplier said. in a press release. Press release.