Shared-office-space startup valued at $16.9 billion in latest funding round.
One of China’s largest hotel companies is eyeing U.S. office space.
Investors including Shanghai Jin Jiang International Hotels have put another $260 million in shared-office-space startup WeWork Cos., according to people familiar with the matter, capping off a funding round that values the company at $16.9 billion.
The deal brings WeWork’s latest funding round to $690 million. The company completed a $430 million chunk of the funding in March.
WeWork has now raised roughly $1.7 billion in private capital. The latest round, which included a U.S. family office and a mix of new and existing investors, will be used to fund the company’s international expansion, one of the people said.