WeWork Sells Two Schools in One Month

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Since its aborted try to go public, WeWork, the co-working real-estate startup as soon as valued at $47 billion, has divested a lot of belongings as enterprise has plummeted and lawsuits run amok.

This week, WeWork announced it’s promoting coding bootcamp Flatiron School to Carrick Capital Partners, a know-how funding agency. Financial particulars of the transaction weren’t disclosed. WeWork paid about $28 million for Flatiron in 2017.

Founded in 2012, Flatiron gives programs in knowledge science, software program engineering, design and different know-how expertise. It had raised $14 million in enterprise capital earlier than it was acquired by WeWork. Flatiron co-founder Adam Enbar will stay CEO of the corporate, which can function as an impartial enterprise beneath Carrick.

This was not the one faculty on the market. Forbes reported that the corporate additionally bought the belongings of WeGrow, its personal preschool, again to WeWork co-founder Rebekah Neumann, who beforehand led that division as its CEO.

Launched in 2018, WeGrow was imagined by Neumann as a “conscious entrepreneurial school” that weaved in yoga, mindfulness and different wellness enrichment applications into its curriculum. Tuition reached upwards of $42,000. About 100 college students had been enrolled when firm officers announced final October that it will shut its doorways after the 2019-2020 faculty yr.

Forbes reported that “Neumann acquired the rights to the curriculum of the elementary school,” who plans to “relaunch the school as Students of Life For Life, or SOLFL, pronounced ‘soulful.’”

According to Axios, “word is that the sale price was well below $1 million.”



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