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WeWork is on an acquisition spree — and they’re all over the board

The company has bought everything from advertising tech to apps for construction managers.

WeWork’s acquisition of digital marketing company Conductor yesterday marks its fifth acquisition in the past seven months.

Since raising $4.4 billion from SoftBank — whose CEO has told founder Adam Neumann to grow WeWork “10 times bigger than your original plan” — the company has been acquiring companies at at a rapid pace, averaging one about every two months. Most of its deals have been outside of WeWork’s core business of renting out work space, ranging from education tech to apps for construction workers, and have been for undisclosed amounts.

Here’s a list of the companies WeWork has acquired so far:

Conductor (March 2018) — A digital marketing startup that helps businesses target advertisements to their customers based on user data. WeWork says it plans to run Conductor as a separate line of business available to WeWork members and non-members.

Meetup (November 2017) — The website that CEO Scott Heiferman started with the idea to “use the internet to get people off the internet” and help people with similar interests — say, vegetarian rock climbers or corgi owners — meet up in real life and do things together. WeWork acquired it for around $200 million, according to Axios. Neumann said WeWork plans to use Meetup to “bring people together around the things that matter most to them.”

Flatiron School (October 2017) — A private coding academy in Manhattan that specializes in a 15-week software engineering program. WeWork has since expanded it by opening a school in Brooklyn that offers students no tuition upfront, but instead a repayment plan.

Unomy (August 2017) — An Israeli sales and marketing platform tech company. According to its website, it’s no longer offered as a service, and shut down as of September, 2017.

Spacemob (August 2017) — A Singapore-based co-working company. Soon after the acquisition, WeWork allotted $500 million for expansion to Southeast Asia and South Korea.

Fieldlens (Jun 7, 2017) — Mobile apps designed for construction workers to communicate faster.

Welkio (Mar 18, 2016) — A digital sign-in system for guests at an office.

Case (Aug 5, 2015) — A firm that built technology for property builders. WeWork has since made Case’s apps open source.

In addition to these acquisitions, in the past year WeWork has also bought a large stake in Wavegarden, which makes wave pools; purchased the iconic Lord & Taylor flagship department store building on Manhattan’s Fifth Avenue, which will serve as its new corporate headquarters; and led a $32 million investment round in The Wing, a co-working/membership club for women.

Recode – All Go to Source

Shirin Ghaffary

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2018-03-08T03:04:39+00:00 March 8th, 2018|Categories: News, Social Media|Tags: |