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Conductor, an SEO technology company owned by WeWork is said to be up for sale. This comes after WeWork’s aborted IPO filing. Reports say that WeWork is under pressure to raise cash.
Sale Expected by Early 2020
According to an article in Fox Business, the sales may be complete by early 2020:
“Multiple potential buyers have reportedly expressed interest in the properties, though their value on the open market was not immediately clear. WeWork is said to be aiming to complete the sales by early next year.”
Was Conductor a Good Fit with WeWork?
WeWork cited the good compatibility between WeWork and Conductor when the purchase was initially announced in 2018:
“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.”
But according to a source with ties to Conductor (who spoke on the condition of anonymity), employees were uncertain about the synergy between the two companies.
Here is what I was told:
“I know there was not a single person I talked to post acquisition that wasn’t scratching their heads on why WeWork bought Conductor in the first place.”
What Will Happen to Conductor?
According to TechCrunch, layoffs at all the business divisions, including Conductor, are looming.
My source with ties to Conductor agreed with that assessment.
This is their assessment:
“I would be worried about my future for sure. If they don’t find a buyer, I can only imagine the downsizing that would take place.”
Conductor is a popular company in the industry. I’m certain many people wish them luck.