WeWork announced this morning it is acquiring a digital marketing and advertising company, Conductor, for an undisclosed amount.
WeWork is acquiring digital marketing startup Conductor
It’s another move by WeWork to diversify its business model outside renting office space.
Shirin Ghaffary was a senior Vox correspondent covering the social media industry. Previously, Ghaffary worked at BuzzFeed News, the San Francisco Chronicle, and TechCrunch.
The co-working tech giant says it’s acquiring the company to add to the services it offers beyond office space, although it will run Conductor as a separate line of business available to customers whether they’re WeWork members or not.
WeWork said it decided to acquire Conductor, a content intelligence platform — which means it targets data to help clients advertise to specific groups of users — after being a customer for two years.
“Conductor has made it easier for us to reach potential WeWork members who are looking for workspace. It’s also helped us get the word out about the services and amenities that we offer to companies of all sizes,” WeWork President and CFO Artie Minson wrote in a company blog post.
WeWork is positioning itself as another offering for its enterprise clients, large companies with more than 1,000 employees — including Samsung, Microsoft and Salesforce — which now make up nearly 25 percent of WeWork’s total membership. The acquisition, similar to its purchase of coding education platform FlatIron School in October, is another step for WeWork in diversifying its lines of business away from leasing office space.
This article originally appeared on Recode.net.
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