WeWork Is Giving Away $20 Million in Cash Prizes to Other Startups
The co-working company’s CEO says the contest is a gesture of goodwill but may also help attract more customers.
WeWork Meatpacking office in New York.
Source: WeWorkThis article is for subscribers only.
Unlike most startups, WeWork Cos. doesn’t seem to struggle with raising money. Soon it’ll start spreading some of its cash around to smaller startups, partly in the hopes of luring them to become WeWork customers.
The New York-based co-working giant said it’ll give away $20 million in cash prizes to entrepreneurs and small businesses in a series of competitions called the Creator Awards. Adam Neumann, WeWork’s chief executive officer and co-founder, said the contest will serve as a way to celebrate reaching 100,000 members, who pay to rent desks and offices alongside other startup creators, freelancers and other professionals.