WeWork has had its problems lately, and Fast Company enumerates them this way: "a failed IPO, the departure of founder Adam Neumann, a plan to divest many of its non-essential businesses, and a scramble to install a CEO who can right the ship."
But what is working, apparently, is "a work space/incubator hybrid aimed at cultivating startups in the food industry by offering an R&D kitchen as well as merchandising, a lab and office space, and special programming to help them grow."
Despite all of WeWork's issues, its Food Labs venture "has managed to buck the odds," Fast Company writes. "Over the last year, it has amassed a membership of more than 400 entrepreneurs (starting at $300 per month) across locations in three cities: New York, San Francisco, and Austin. Food Labs is part of WeWork’s larger Labs initiative, which has grown to more than 4,600 memberships in 19 countries.
"Though modest, if it scales, this could be exactly what the company needs to remake itself in the aftermath of a disastrous 2019."
- KC's View:
I think this is sort of brilliant. There is so much action taking place in the food development sector, and WeWork is so much in need of a additional action, that it seems like a match made in heaven.
Watch for this initiative to be expanded, and for WeWork to get really aggressive about marketing it.