WeWork co-founder Adam Neumann has invested $10 million into GoTo Global through a Series B round worth $19 million. The move gives him a 33 percent equity stake in the shared mobility company, ahead of the company’s planned expansion into Europe. At the moment, it only operates in Malta and in Israel. Neumann will get the right to appoint one board member in the company as a result of the investment. Like co-working spaces, the shared mobility sector has been decimated by the Coronavirusc crisis, making it an unlikely investment target at first glance. But the company’s CEO Gil Laser is confident of his company’s ability to adapt, claiming his company’s revenues were now 12 percent above what they were before the pandemic. “We understand that although on one hand shared transport may not seem to be the safest solution, on the other hand it is perceived as a safer option than a public transport and it is definitely a much cheaper option than an owned car.” In a possibly unrelated move, Neumann has allegedly put his house in Corte Madera, California on sale for a reported $27.5 million. He bought the house in 2018 for $21 million, prior WeWork’s disastrous IPO.
