WeWork secures $500m funding

Coworking and community service provider WeWork Companies Inc announced on Thursday a $500 million series B funding for WeWork China.

The funding will be used to accelerate the company's expansion in China, by reaching into more cities and bringing more of WeWork's global business lines into the country. The company said its growth rate in China over the past two years is not replicated anywhere else in the world.

"This investment will help WeWork to fuel our mission to support creators, small businesses and large companies across China," said WeWork's co-founder and CEO Adam Neumann.