Pulling the curtain off the acquisition
How it went down: WeWork offered $4 million in stock, plus compensation worth close to $5 million over several years to MissionU’s Founder Adam Braun.
Be Smart: With this deal, WeWork acquired talent, not a company. Interestingly, MissionU returned around $8 million back to its investors. Adam Braun is now the chief operating officer at WeGrow’s education program, according FastCompany.
Growth Strategy: In the past year, WeWork has acquired Meetup, Flatiron School, MissionU, Unomy, Spacemob, Conductor, Fieldlens, and Welkio. WeWork also bought a large stake in Wavegarden and also invested in The Wing.
Takeaway: Most of the acquisitions have been outside of its core business of renting out work space. Founder Adam Neumann is seeking to justify the unicorn’s $20 billion valuation as a transformational tech company, not a real estate one.