WeWork has acquired GV-backed Managed by Q, a platform for office tenants to hire service providers such as cleaners, receptionists or IT support.
, Managed by Q Cofounder and CEO Dan Teran expressed his support, and emphasizes that"the decision to join WeWork and forgo an independent path was not taken lightly."
The acquisition is another way WeWork is hoping to expand beyond leasing office space to smaller tenants. Managed by Q works mainly with medium and larger-size companies — a customer segment WeWork has been hustling to break into. WeWork, most recently valued at $47 billion, has made several acquisitions over the last year to continue adding services to support its primary customers.
Managed by Q had an existing partnership with WeWork where its services were available to customers of its Headquarters by WeWork offering. Headquarters by WeWork offers tenants a fully branded, private office space managed by WeWork., and Managed by Q will continue to serve non-WeWork clients.
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