Startups Weekly: What’s next for WeWork?
Hello and welcome back to Startups Weekly, a weekend newsletter that dives into the week’s noteworthy startups & venture capital news. Before I jump into today’s topic, let’s catch up a bit. Last week, I wrote about scooter companies struggling to raise cash. Before that, I noted my key takeaways from Recode + Vox’s Code Conference in Scottsdale, Arizona.
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I’m sure you’re familiar with the co-working behemoth WeWork at this point but if not, here’s a quick primer: The real estate business posing as a “tech startup” offers office spaces to individuals and companies across thousands of co-working spots scattered across the globe.
Led by an eclectic chief executive by the name of Adam Neumann, WeWork made headlines this week after announcing its acquisition of building access app Waltz. The deal represents WeWork’s third M&A transaction of 2019, following that of spatial analytics platform Euclid and office management system Managed By Q. As is often the case, WeWork didn’t disclose terms of the deal.
In the last few years, WeWork has acquired