Work It WeWork

WeWork Raises $6.85 Million and Moves West, Young Man

WeWork's new space on Hollywood Boulevard, Los Angeles

WeWork, the cooperative workspace that cofounder Adam Neumann calls “the world’s first physical social network” just raised $6.85 million as they prepare to open yet another space in New York and their first in Los Angles.

The company, which rents office and desk space to startups, entrepreneurs and small businesses for as low as $275 a month is already up and running in California with their San Francisco office.

Mr. Neumann told Betabeat that this second round of capital was raised over a short period of time and explained that WeWork has had had various investment offers, but are picky about who they choose to work with.

“We try to choose only ‘we’ investors. Not just anyone we who offers us money— investors who have a ‘we’ mentality which means they care about the bigger picture… and think collaboration is the future of innovation,” said Mr. Neumann. Read More