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WeWork CEO Adam Neumann
- Coworking startup WeWork has acquired at least 21 startups since 2015, according to Pitchbook data.
- The single largest deal we know about is WeWork's acquisition of a Singapore-based coworking startup for $500 million in 2017.
- Several of the startups it acquired seem to fit right in with WeWork's business model, such as architectural design firms or office space management tools.
- Other deals, such as a big investment in a wave pool company, were pet projects led by WeWork cofounder and CEO Adam Neumann.
- The majority of founders whose companies were acquired did not continue working at WeWork following the deals.
Embattled coworking startup WeWork has been on something of a shopping spree.
Before delaying its IPO and finding itself in the middle of a potential boardroom coup, the young startup was snapping up a wide variety of startups. According to Pitchbook data, WeWork has acquired 21 companies since 2015.
The details of many of those deals were never made public - but we know that WeWork paid about $40 million for Flatiron School, an online coding school, and that it made what's likely its biggest deal ever when it spent $500 million for a Singapore-based coworking startup called Spacemob.
Many, if not most, of those startups have fit squarely within WeWork's core coworking business. All told, WeWork has acquired multiple office management startups, ranging from construction software and architecture design firms, to marketing tools and messaging services.
But some acquisitions don't fit as nicely, including WeWork's 2016 purchase of a large stake in a Spanish company that makes wave pools. WeWork's cofounder and CEO Adam Neumann, who is now under scrutiny for potential misuse of company funds and questionable investing practices, is an avid surfer.
According to Pitchbook and LinkedIn, many founders whose companies were acquired did not stay on to work for Neumann at WeWork, which Business Insider recently reported had a "cultish" culture that did not favor outsiders.
WeWork did not return Business Insider's request for comment.
Here are the 21 startups WeWork has acquired since 2015, according to Pitchbook data.