We Company, the beleaguered parent of WeWork, has been quietly building an electronic-gaming business.
After branching into co-living with WeLive, fitness with Rise By We and education with WeGrow, the money-losing startup is seeking a Play By We trademark, according to an application published by the UK's Intellectual Property Office last week. It has also hired a handful of staffers, according to people familiar with the matter, who asked not to be identified because the matter is private.
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The fate of the employees isn't yet determined, and a decision hasn't been made about the viability of the early-stage business, one of the people said. WeWork is planning thousands of job cuts as it prioritizes profitability and aims to "right-size" its operations, in part by homing in on co-working. WeWork last week accepted a US$9.5 billion (NZ$14.9 billion) rescue package from Japanese conglomerate SoftBank Group Corporation, its biggest shareholder.
A representative for WeWork declined to comment.