WeWork is shutting down a restaurant coworking startup it acquired only 4 months ago

WeWork is closing its restaurant coworking startup Spacious, after acquiring the company only around four months prior. It’s the latest sign that the troubled company is cutting costs by offloading the plethora of business it rapidly acquired in the past few years. Making matters more complicated, in October a whistleblower filed a complaint about WeWork’s…

WeWork is shutting down a restaurant coworking startup it acquired only 4 months ago

WeWork is closing its restaurant coworking startup Spacious, after acquiring the company only around four months prior. It’s the latest sign that the troubled company is cutting costs by offloading the plethora of business it rapidly acquired in the past few years.
Making matters more complicated, in October a whistleblower filed a complaint about WeWork’s original Spacious’s original acquisition with the US Securities and Exchange Commission (SEC), alleging that executives pushed the deal through without doing enough outside review of Spacious’s financials (a claim that WeWork has denied). According to the complaint, WeWork bought the company for $42.5 million.
Spacious is just one of several startups WeWork has acquired in the past few years that are being shut down, going through layoffs, or on the market. Executives at Conductor, an SEO and content marketing startup that WeWork acquired, are buying back the company from their troubled owner. And Managed by Q,
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