WeWork closes latest funding amid China push

Hony Capital and parent company Legend Holdings plan to expand the US shared-office-space startup WeWork in China after leading its latest round of financing.

Beijing-based private equity group Hony Capital and its parent company Legend Holdings plan to help US startup WeWork expand in China after leading its latest round of financing.

WeWork, which leases out offices and other co-working spaces, has raised about $750m from its series F round of fundraising, giving it a valuation of around $16 billion, according to one person with direct knowledge of the matter.

That is a big jump from $10 billion valuation WeWork achieved at its last financing round in June 2015. The company is now among the most valuable startups in the world, higher than music streaming service Spotify...

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