Wednesday, September 12, 2018

Teem Acquired By WeWork

Salt Lake City-based Teem, which develops software to help companies manage their conference rooms and office spaces, including handling scheduling and desk reservations, has been acquired by coworking space operator WeWork. Financial terms of the buy were not announced. According to the two, Teem will continue to operate as an independent business line, and that WeWork will acquire Teem in its entirety, including over 100 people. Teem was founded in 2012. WeWork said it will also provide Teem's services as a part of its various WeWork offerings, including as part of its Powered by We products. Teem was co-founded and was led by CEO Shaun Ritchie. The company originally was named EventBoard, and was venture backed by Greycroft Partners, Origin Ventures, Zetta Venture Partners, plus Google Ventures, Salesforce.com founder Marc Benioff, Dave Elkington and Josh James.