Tuesday, March 06, 2018

WeWork Makes a Digital Marketing Acquisition


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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