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WeWork sells Managed by Q at loss

Founder of Managed by Q, Dan Teran (Credit: TechCrunch)

WeWork has sold Managed by Q to startup Eden for $25 million. Adam Neumann paid $220 for the facilities management company less than a year ago, in a deal that included $100 million in cash, TRD reported. The two platforms streamline office operations by handling supply stocking, cleaning, IT support, and other non-work related tasks. 

  • Worth Noting: Eden completed a $29 million funding round led by JLL on Tuesday, which was used to fund the acquisition. The startup will now partner with its former chief rival Managed by Q.

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