WeWork valued at $5 billion following massive funding round

WeWork, an office developer, believes it can be as transformational to its industry as upstarts like Airbnb and Uber are in travel and transportation. The four-year-old company, which divvies up rented office space and sublets mostly to startups, said on Monday it closed a $355 million funding round. The deal values the company at about $5 billion, said people close to the matter. The valuation puts the small New York-based company in the same league as social bookmarking site operator Pinterest Inc. and media and Internet company IAC/InterActiveCorp.