WeWork, a global co-working and office space company, is to acquire Spacemob, a Singapore-based coworking company.
The amount of the deal, which was announced along with a $500m investment in a new entity focused on accelerating growth and expansion in Southeast Asia and Korea, was not disclosed.
Spacemob’s founder and CEO, Turochas “T” Fuad, and his team will join WeWork’s team. Fuad, who founded Spacemob in early 2016 and grew the company to multiple locations in Singapore, with spaces in Indonesia and Vietnam scheduled to open soon, will become Managing Director of Southeast Asia for WeWork and will oversee the company’s expansion in the region.
Prior to founding Spacemob in early 2016, Fuad founded and sold two startups: WUF Networks and Travelmob and held senior roles in Southeast Asia and Asia Pacific for Yahoo! and Skype, respectively.
Matt Shampine, currently Head of Marketing and Revenue for Asia, has been appointed General Manager of Korea for WeWork. Shampine originally joined WeWork in 2010 as a member and his digital agency went on to be a founding member of WeWork Labs.
In 2013, he joined WeWork as an employee, initially as Director of Strategic Partnerships. More recently, Shampine has played a key role in WeWork’s entry and subsequent expansion in Asia.
Both Fuad and Shampine will report to Christian Lee, Managing Director of WeWork Asia.
Founded in New York City in 2010 by Adam Neumann and Miguel McKelvey, WeWork a community for creators, providing more than 130,000 members around the world with space, community, and services through both physical and virtual offerings. It currently has more than 163 locations in 52 cities and 15 countries around the world.
FinSMEs
08/08/2017