WeWork Acquires Tech Firm ‘Euclid’ to Diversify its Services

WeWork, the giant coworking facility operating globally recently acquired Euclid, a tech firm. This tech company, comprising of 24 employees, provides a platform which observes the movements of people in a workspace. For instance, which work spot is being used more regularly or how many people showed up for a conference. All of this is executed with the help of a Wi-Fi connection. According to WeWork, this service will help workspaces to recognize the best spots within the center.

Just a month before, WeWork spent $100 million on an office management startup, Teem. This shows that the company does not want to restrict its services to providing workplace solutions only. Valued at $47 billion, WeWork made some major expansions the previous year. The most famous being its rebranding to ‘We Company’. It will be interesting to see what will be the next step after this crucial acquisition.

WeWork to become Google Analytics for workspaces

Like Google Analytics which analyses the traffic on a website, in turn, helping you to know its strong and weak points, Euclide is trying to understand the behavior of work members. This observation is made by WeWork’s chief product officer, Shiva Rajaraman. In a way, this service will help a company better understands the requirements of an individual. Moreover, it can help them to improve their services and provide more personalized services that cater to specific requirements. However, the company has no plans of selling this service to other work centers as of now. This is because they want to better understand the working of this software before sharing it with other corporations.

Also, Check Out another service by WeWork = WeWork Labs

Questions raised about the privacy of members

Although this acquisition of Euclid may lead to many positive changes, it is receiving heavy criticism from different sectors. Why you might ask? Well, obviously people are concerned about their privacy. There is a possibility that the software will identify specific individuals rather than the whole bunch. The question is whether this step will prove good for this big coworking firm or will they suffer losses? Only time can deduce the answer to this query. On the other hand, when questioned, Shiva Rajaraman did not deny this speculation but also assured that the privacy of individual members will not be compromised. Further, the software is designed to work on an aggregate level.

Ajay Deep