Coworking space, 1871, is acquiring the assets and intellectual property of Catapult. Catapult was founded in 2012 with the goal of providing tech startups with access to affordable space in downtown. Both companies, Catapult and 1871, provided its workspace members with access to mentoring, educational, and networking opportunities.
As part of the acquisition, Catapult will vacate 12,500 square feet of space at 227 W. Monroe Street. While 1871 will not take over Catapult’s real estate, it will take over Catapult’s programming for tech startups.
The acquisition is part of 1871’s strategy to reduce its reliance on real estate and instead focus more on its educational and mentoring programs.