Gym Membership App Compass Loads Up WeWork With Employees
WeWork has signed a deal to provide space to 250 employees of gym membership app company Compass in New York.
It's the latest example of the U.S. office-sharing start-up’s majority owner, SoftBank Group Corp, using its connections to buoy its business.
Reuters reports SoftBank is also a minority investor in Gympass.
SoftBank is hoping this network of portfolio companies will help its attempted turnaround of WeWork.
SoftBank rescued WeWork from bankruptcy last year by acquiring majority control.
Last year, in the third quarter alone, WeWork parent The We Company saw its net losses more than double to $1.25 billion year-on-year.