- Coworking startup WeWork has acquired at least 21 startups since 2015, according to Pitchbook data.
- The single largest deal we know about is WeWork’s acquisition of a Singapore-based coworking startup for $500 million in 2017.
- Several of the startups it acquired seem to fit right in with WeWork’s business model, such as architectural design firms or office space management tools.
- Other deals, such as a big investment in a wave pool company, were pet projects led by WeWork cofounder and CEO Adam Neumann.
- The majority of founders whose companies were acquired did not continue working at WeWork following the deals.
Embattled coworking startup WeWork has been on something of a shopping spree.
Before delaying its IPO and finding itself in the middle of a potential boardroom coup, the young startup was snapping up a wide variety of startups. According to Pitchbook data, WeWork has acquired 21 companies since 2015.
The details of many of those deals were never made public – but we know that WeWork paid about $40 million for Flatiron School, an online coding school, and that it made what’s likely its biggest deal ever when it spent $500 million for a Singapore-based coworking startup called Spacemob.
Many, if not most, of those startups have fit squarely within WeWork's core coworking business. All told, WeWork has acquired multiple office management startups, ranging from construction software and architecture design firms, to marketing tools and messaging services.
But some acquisitions don't fit as nicely, including WeWork's 2016 purchase of a large stake in a Spanish company that makes wave pools. WeWork's cofounder and CEO Adam Neumann, who is now under scrutiny for potential misuse of company funds and questionable investing practices, is an avid surfer.
According to Pitchbook and LinkedIn, many founders whose companies were acquired did not stay on to work for Neumann at WeWork, which Business Insider recently reported had a "cultish" culture that did not favor outsiders.
WeWork did not return Business Insider's request for comment.
Here are the 21 startups WeWork has acquired since 2015, according to Pitchbook data.
Case
- What it did: Construction and building design startup
- Amount: Undisclosed
- Deal date: August 2015
- Founder: David Fano
Welkio
- What it did: Office sign-in software creator
- Amount: Undisclosed
- Deal date: March 2016
- Founder: Florent Ferere
FieldLens
- What it did: Construction field management mobile software
- Amount: Undisclosed, but privately valued at $20.57 million
- Deal date: June 2017
- Founder: Doug Chambers
Spacemob
- What it did: Singapore-based Co-working space startup
- Amount: $500 million
- Deal date: August 2017
- Founder: Turochas Fuad
Unomy
- What it did: Israeli marketing sales software startup
- Amount: Undisclosed
- Deal date: August 2017
- Founder: Gal Har-Zvi
Flatiron School
- What it did: Online coding school
- Amount: $40 million
- Deal date: October 2017
- Founder: Adam Enbar
Wavegarden
- What it did: Wave generator startup for surfing
- Amount: Undisclosed; WeWork reportedly acquired a "large stake" in the company.
- Deal date: 2016
- Founder: Josema Odriozola
Meetup
- What it did: Global social networking app
- Amount: $200 million
- Deal date: November 2017
- Founder: Brendan McGovern
Conductor
- What it did: SEO marketing software
- Amount: Undisclosed but was privately valued at $125 million
- Deal date: March 2018
- Founder: Bennett Theimann
LTB
- What it did: UK-based office design firm
- Amount: Undisclosed
- Deal date: April 2018
- Founder: Martin Leeper
Naked Hub
- What it did: Chinese coworking startup
- Amount: $400 million
- Deal date: April 2018
- Founder: Grant Horsfield
MissionU
- What it did: Alternative education software
- Amount: Undisclosed, but had been privately valued at $27 million
- Deal date: May 2018
- Founder: Adam Braun
Designation Labs
- What it did: Bootcamp for designers
- Amount: Undisclosed
- Deal date: August 2018
- Founder: Aaron Fazulak
Teem
- What it did: Cloud-based workspace analytics tool
- Amount: $100 million
- Deal date: September 2018
- Founder: Shaun Ritchie
Euclid Analytics
- What it did: Location-based marketing software and analytics for retail customers
- Amount: Undisclosed, but privately valued at $140.84 million
- Deal date: February 2019
- Founder: Ross Chanin
Managed by Q
- What it did: Office management logistics startup
- Amount: $250 million
- Deal date: April 2019
- Founder: Saman Rahmanian
Islands Media
- What it did: Location-based messaging service for college students
- Amount: Undisclosed, privately valued at $8.42 million
- Deal date: April 2019
- Founder: Greg Isenberg
Prolific Interactive
- What it did: Mobile-based branding agency
- Amount: Undisclosed
- Deal date: June 2019
- Founders: Bobak Emamian and Eric Weber
Waltz
- What it did: Real estate investing app
- Amount: Undisclosed, but privately valued at $3.58 million
- Deal date: June 2019
- Founder: Matthew Kopel
SpaceIQ
- What it did: Cloud-based office management software
- Amount: Undisclosed, but privately valued at $19.50 million
- Deal date: August 2019
- Founder: Shahar Alster
Spacious
- What it did: Coworking startup for freelancers that rents out unused restaurant space
- Amount: Undisclosed, but privately valued at $29.10 million
- Deal date: August 2019
- Founder: Preston Pesek