US co-working firm WeWork has downgraded its core business to a subsidiary of its overarching company, now re-marketed under the name The We Company. This decision follows a Silicon Valley trend of "de-branding". In an email sent out on Monday afternoon, WeWork, which is based in San Francisco, said it had decided not to renew its lease at 555 California Street and would be closing down the office space by The vogue of separating the consumer-facing brand from the investment-focused company is a suggestion that the corporate leadership aims to diversify into a number of different industries. Moreover, this distancing can sometimes be construed as an ownership trying to disassociate themselves from a problematic, or perhaps shameful, label.
US co-working firm WeWork has downgraded its core business to a subsidiary of its overarching company, now re-marketed under the name The We Company. This decision follows a Silicon Valley trend of "de-branding". Google became part of its parent company Alphabet, while Snapchat now comes under the umbrella corporation of Snap. The vogue of separating the consumer-facing brand from the investment-focused company is a suggestion that the corporate leadership aims to diversify into a number of different industries. Moreover, this distancing can sometimes be construed as an ownership trying to disassociate themselves from a problematic, or perhaps shameful, label.