In its fifth acquisition in nearly six months, shared workspace startup WeWork has just announced that it will purchase Meetup for an undisclosed amount.
Launched in 2010, WeWork provides over 10 million square feet of co-working spaces, technology startup subculture communities, and other services for entrepreneurs, freelancers, startups, small businesses, and large enterprises. Now a global giant, WeWork has over 150,000 members across 21 countries and is reportedly valued at $20 billion.
Meetup, a social media site that connects people and groups based on their interests, was launched in 2002 and currently has over 32 million members in 182 countries. WeWork anticipates that the collaboration with Meetup will enable the use of technology to create new and innovative ways of bringing people together in person to foster greater community.
The “decacorn” has been quite busy this year, opening up new offices in Paris, Sao Paulo, Buenos Aires, and Beijing, with more cities to follow. The rapid expansion is due, in part, to a recent $4.4 billion round of funding rom SoftBank Group and SoftBank Vision Fund. WeWork has also recently purchased Lord & Taylor’s former Fifth Avenue flagship department store for a reported $850 million. The space, located in the heart of New York’s busiest business district, will be used as their new headquarters.
The startup has also been busy expanding by acquiring a number of companies. Last year, WeWork acquired Welkio, a firm offering a digital sign-in system for offices. In a flurry of activity this summer, WeWork acquired Fieldlens, a mobile-first communication and project management platform; Spacemob, a Singapore-based co-working space startup; and Unomy, a sales and marketing intelligence platform.
In an effort to provide its clients with the skills and tools they need to succeed, WeWork has also acquired Flatiron School, which will enable employees and WeWork members to have access to one of the world’s leading coding academies.