WeWork acquires digital marketing startup Conductor to expand its core business
In a move that WeWork is looking to diversify its core business of renting office, the company announced today it’s acquiring a digital marketing and advertising company, Conductor. The terms of the deal were not disclosed. In a company post, WeWork signals it wants to expand beyond providing beautifully designed workspace to providing suite of services and tools companies need to succeed and compete in the 21st-century economy.
“WeWork began working with Conductor in 2016. Conductor has helped us improve our digital marketing and online presence by making it easier for us to reach new potential WeWork members based on what they are seeking. They’ve also helped us tailor our efforts regionally. Conductor’s platform has helped us grow our business, and we want to help them scale so they can help you grow yours. Together, we can help large companies expand their digital presence and deliver customer value through digital content,” WeWork President and CFO Artie Minson said in a company blog post.
Founded in 2005 by Jeremy Duboys, Seth Besmertnik, Conductor is a content intelligence platform that enables marketers to create great content, drive qualified traffic, and increase ROI. It currently serves over 1,000 brands around the world, improving the online presence of major corporations including Citibank, Salesforce, CVS. Conductor has raised $60.6 million in total funding to date.
According to the blog post, Conductor will continue to operate as an independent business line, with CEO Seth Besmertnik remaining in his role and reporting to WeWork President and Chief Financial Officer Artie Minson.
“There’s a lot that make WeWork and Conductor a natural fit,” said Minson. “Seth and his team built Conductor to provide the insights, education, and resources their customers need to succeed — in other words, Conductor helps their customers do what they love, and do it better.”
Minson added: “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.”
Besmertnik said that Conductor’s mission to improve people’s lives aligns perfectly with WeWork. “Together, Conductor and WeWork share a vision to bring a human-driven focus to the trillion dollar marketing category. We want to inspire and contribute to the cultural revolution happening across modern companies and put people – our coworkers, our customers, our communities – first,” Besmertnik said.
WeWork was founded in 2010. It’s a platform for creators that transforms buildings into dynamic environments for creativity, focus, and collaboration. The company transform buildings into beautiful, collaborative work spaces and provide infrastructure, services, events and tech. It has made a total of eight acquisition. WeWork’s customers include world’s largest corporations — like GE, Mastercard, and Samsung — into our more than 200 locations.