Spacious acquired by The We Company (Already shuttered)
WeWork or The We Company has agreed to acquire Spacious, the coworking outfit that offers space in restaurants during the day. Terms of the transaction were not disclosed but the Information has reported that the transaction was worth $42M; half in stock and half in cash. “In WeWork, we have found much natural alignment across our visions for the integration of work, technology, and physical space. We’re thrilled for the opportunity to continue to serve our members at Spacious today as part of the greater WeWork community,” remarked Preston Presek, Cofounder and CEO of Spacious. Spacious has been closed as of 12/31/2019.
Selected investors in the round: August Capital, BoxGroup, Lerer Hippeau, MetaProp NYC, Redpoint
Founding year: 2016
Total funding raised: $9.1M
Time from founding to exit: 3.65 years
Full coverage: Spacious acquired by The We Company
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