WeWork is desperately scraping up loose change, now that their major investor SoftBank is looking mighty wobbly itself, after Japanese banks balked at extending Sagan amounts of credit to them.
AlleyCorp seems to be an angel investor, so hopefully they can keep Meetup going, if WeWork hasn’t damaged it too much by employee decimation, stripping assets, and loading it with debt.
Hopefully meetup can survive the coronavirus too… social distancing and meetup aren’t really compatible with each other.
Several of the local meetups have gone online for the duration. Working alright so far
Looks like Meetup got out in the nick of time.
Tiny coronaviolin playing for Adam Neumann.
Tiny violin plays louder…
Hopefully the new owners of meetup realise that the recent eye-watering price increases for meetup organisers have driven a lot of people away from the platform. Several local groups that I kept up with have departed to other platforms (usually their own website or facebook) in the last year.
As with any site that sells users to users, the meetup groups are a very volatile asset, and when they’re gone, they’re probably not coming back. (Especially if someone else sees a vulnerable market niche.)
Meanwhile, pandemonium:
I feel sorry for the rank and file, who’ve put in sweat-equity only to see their reward vanish, but the company was a swindle from the start.
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