Meetup has maintained is positions as a company that worked against the tide, to ensure that people spend time off line connecting and interacting with each other. This comes at a time when social media has flooded the web with companies like Facebook, Instagram, and Twitter. However, this has not gone un-noticed, it seems. Another startup that believes in a similar ideology but with a different model – WeWork—has been eyeing Meetup for quite some time.
In recent news, WeWork has acquired Meetup. This acquisition will create a collaborative model between a shared workspace provider and another company that aims to connect people.
WeWork has not disclosed the value of the transaction. Meetup, a venture that was founded in 2002, allows people to find others with similar hobbies and interests.
WeWork CEO and co-Founder Adam Neumann indicated in a blog post that the two companies share a similar goal of “bringing people together.” WeWork helps startups and other small businesses to use their office space and other affiliated services in a shared workspace model.
Currently, WeWork is operational in 17 countries across the globe.
Speaking on this acquisition news, Neumann said, “WeWork and Meetup have the opportunity to use technology to create new and innovative ways of bringing people together in person and foster greater community.”
Meetup also commented on this development stating, “WeWork has space for community, and Meetup needs space for community. Voila!”
Currently, WeWork is valued at $20 billion, after Japan’s Softbank made an investment of $4.4 billion, earlier this year. In an expansion to its business model, the company has also collaborated with Airbnb to provide office facilities to business travelers.
With this acquisition, WeWork gains access to a large community that includes millions of members from Meetup, including 300,000 group organizers. In the past, the two companies have worked together, including a Meetup event consisting of more than100,000 people organized in a WeWork space. Neumann further commented that even after the acquisition, Meetup will operate as a standalone venture and CEO Scott Heiferman will still be the leading Meetup.