Today, WeWork announced the purchase of Conductor, a
digital marketing firm that WeWork itself has been a client of for some time. The
Company said that Conductor’s targeted marketing services will be offered to
customers irrespective of whether they’re WeWork members or not.
The transaction is WeWork’s latest move to diversify its
revenue streams following recent deals for the FlatIron School (a coding
education platform) and Meetup (a networking company), namely for enterprise
clients which currently comprise 25% of its membership. Presumably – though the
recode article in which I first read the
news didn’t mention it – WeWork will continue its own relationship with Conductor.
The transaction is an interesting example of another digital
marketing firm / team being swallowed up by a larger non-marketing company to
bring in-house a service that appears more attractive to buy than build itself (e.g.,
Cars.com
acquiring Launch Digital Marketing). It also demonstrates the importance
and value of digital marketing to businesses of all sizes.
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