WeWork to buy Chinese office space startup for $400M

WeWork’s China unit will acquire the local office space startup Naked Hub for $400 million.

It’s another aggressive push into the Chinese market after WeWork launched its first space in Shanghai in 2016.

The co-working company has locations across China, including Beijing, Shanghai, and Hong Kong, with an average occupancy rate of 90%.

Naked Hub, headquartered in Shanghai, was founded in 2015. It has 46 locations throughout Asia.