WeWork’s Acquisitions Are Being Kicked To The Curb
Up-and-coming startups once dreamed of the day that coworking company WeWork would seek to acquire them. Now, as WeWork attempts to recoup its losses after failing to go public, it is letting go of its promising acquisitions.
Just yesterday, the coworking giant announced it would shut down Spacious, a company that transforms restaurants during the day into coworking spaces, which it only acquired four months ago.
Spacious’ story isn’t the only startup-fairytale-gone-wrong either. After WeWork acquired Managed by Q last April for $220 million, CEO Dan Teran was told he, and the company’s 500 employees, would stay on at the firm. Now, reports say that Teran is battling management platform company Eden to win back ownership of his old firm.
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Not all is lost though. Content marketing platform Conductor recently announced that it was able to buy back their company from WeWork. Conductor was acquired by WeWork for $113.6 million in March 2018.
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