WeWork to acquire social networking company Meetup

  • WeWork to acquire social networking company Meetup

WeWork to acquire social networking company Meetup

However, the truth is that WeWork is much closer to being a real estate company than a technology firm, because it appears to do little else in practice apart from provide office space and related services for technology startups. It's even testing a private elementary school for kindergartners in one of its NY locations. In a blog post, Neumann said it will help WeWork further its mission by "bringing people together". "In many ways, WeWork and Meetup have already been collaborating".

The two New York-based companies announced the news on Tuesday following an earlier report from The New York Times that said a deal was imminent. "We couldn't be more excited to have them on our team".

Meetup, also based in NY, has long shunned taking on excessive amounts of venture capital, raising only about $18 million to date, according to private tech company database Crunchbase.

Co-working space provider WeWork Inc. reportedly has acquired Meetup Inc. WeWork has 10 million square feet of space in 17 countries that's mostly occupied on weekdays. WeWork also recently paid $850 million for Lord & Taylor's former Fifth Avenue flagship department store to serve as its Manhattan headquarters. "Voila!" Meetup said in its own statement. WeWork also now has WeLive buildings, where young professionals can share housing, and has targeted the next generation of potential clients with a pilot program for "conscious entrepreneurship" for Kindergartners.