WeWork plans to get into eSports market
Information has recently surfaced regarding a new potential endeavor from We Co., the parent company of the now infamous WeWork. As confirmed by UK’s Intellectual Property Office, We Co. applied for a Play By We trademark, a would-be electronic gaming addition to the company’s lineup of products such as the edutech platform WeGrow, and fitness firm Rise by We.
The application provides information that Play By We intends to offer services such as “providing online professional video games competitions,” and other electronic entertainment such as tournaments, exhibitions, contests and so on. Although We Co. has not publicly announced its intentions to launch the new startup, some details about it were provided through two LinkedIn job vacancies, which are now expired.
The vacancies included a the position of delivery project manager, whose responsibilities would include managing teams of designers, architects construction and logistics staff in New York, as well as the position of a content and experience manager, who would be responsible for providing customer interaction and the creation of a “a global physical community for the e-sports gaming market.” The content manager would also be responsible for monetization strategies aimed at eSports.
Despite the fact that eSports and video games in general are constantly gaining demand, with projections of monthly eSport audiences of 276 million people, We Co. and WeWork specifically are under close scrutiny by investors. SoftBank Group Corp., WeWork’s largest shareholder has provided the company with a rescue deal last week valued at over $9.5 billion.
As WeWork’s reputation is still recovering from its recently failed IPO and subsequent abeyance of co-founder Adam Neumann, people that are familiar with the matter say that a decision regarding the viability of the new startup has yet to be made. Aside from Adam Neumann stepping from the CEO position, the company is in the midst of a massive retrenchment plan, as part of a strategy to raise profitability.