Social media platform Meetup has announced that the company has been acquired, divesting from The We Company and will operate independently after two-and-a-half years as a subsidiary.
The acquisition was led by Kevin Ryan’s AlleyCorp, who will join as Chairman of the board, while David Siegel will stay on as CEO.
WeWork will continue to service Meetup’s 49 million members and 230,000 organizers, who produce an average of 15,000 in-person events daily.
“We thank David and the entire Meetup team for their many contributions to WeWork over the past two and a half years,” said Rohit Dave, Head of Corporate Development for WeWork. “Our decision to divest Meetup aligns with WeWork’s renewed focus on the company’s core workspace business and marks a positive step forward for both WeWork and Meetup.”
