WeWork plans to spin-off or sell two more of its recent acquisitions — SpaceIQ and Teem — in addition to others that have been reported, according to a source familiar with the matter.
Why it matters: After replacing its CEO and shelving its IPO, the company is looking to both boost its balance sheet and focus on its core co-working business.
As was previously reported by The Information last week, the company is looking to spin off ManagedByQ, Meetup, and Conductor, and has already received interest, the source said.
As for SpaceIQ and Teem, both are tech companies that help businesses manage their space.
Teem, which WeWork acquired a year ago, has a variety of software for businesses, including managing conference-room booking and handling visitors arriving at the lobby.SpaceIQ, acquired in July, allows a company's real estate department to handle tasks such as managing floor plans and desk assignments.