WeWork acquires co-working rival Spacious
WeWork, now known as The We Company, announced this morning the acquisition of a rival co-working business, Spacious. The three-year-old, New York-based startup turns restaurants that sit empty during the day into co-working spaces, and is one of several niche co-working startups — like Convene, Knotel, Industrious, The Yard, The Wing, and Alley, for example.
Spacious was co-founded in 2016 by CEO Preston Pesek, whose background is in commercial real estate. The company’s goal was to take advantage of under-utilized urban spaces, including abandoned retail stores and empty restaurants, to serve the co-working crowd. The company has since converted dozens of restaurants in New York and San Francisco into weekday workspaces.
Reported by Tech Crunch