New York-based startup WeWork on Monday said it will invest $500 million in Southeast Asia and South Korea in its latest effort to tap growing demand for shared office space in Asia.

The firm, which provides workspace for users as varied as freelancers, entrepreneurs and corporations, said it will buy Singaporean peer Spacemob for an undisclosed amount, and that it will retain Spacemob’s management team.

WeWork named Turochas “T” Fuad, who founded Spacemob early last year, as its managing director for Southeast Asia. It also appointed Matt Shampine, currently WeWork’s head of marketing and revenue for Asia, as general manager for Korea.

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