Real Estate Company Buys Digital Marketing Company
WeWork, a real estate company known for selling shared workspaces, has acquired a 13-year-old digital marketing company Conductor to dominate Search Engine Results Pages (SERPs).
Real Estate Company to offer digital marketing services
The move aligns with the real estate giant’s effort to provide clients with other services that cover digital marketing, especially search engine optimization. SEO is becoming more expensive every year because of an increasing number of websites every month that compete with one another on search results.
According to Conductor’s company profile on Crunchbase, it raised approximately $61 million in total funding from investors including Matrix Partners, Firstmark, Investor Growth Capital, Blue Cloud Ventures and Catalyst Investors. Previously, it had taken on debt financing. WeWork is fueled by about $7 billion in venture capital funding.
Real Estate Company acquiring SEO Company
WeWork said the decision to acquire the SEO Company was due to advertising and marketing plan of the co-working giant.
“Conductor has made it easier for us to reach potential WeWork members who are looking for workspace. It’s also helped us get the word out about the services and amenities that we offer to companies of all sizes,” WeWork President and CFO Artie Minson wrote in WeWork blog post.
WeWork is positioning itself as another offering for its enterprise clients, large companies with more than 1,000 employees — including Samsung, Microsoft, and Salesforce — which now make up nearly 25 percent of WeWork’s total membership.
The acquisition of the digital marketing company, similar to its purchase of coding education platform FlatIron School in October, is another step for WeWork in diversifying its lines of business away from leasing office space.
“There’s a lot that make WeWork and Conductor a natural fit. 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. Conductor has made it easier for us to reach potential WeWork members who are looking for workspace. It’s also helped us get the word out about the services and amenities that we offer to companies of all sizes,” according to an email statement made by WeWork President & Chief Financial Officer Artie Minson.