In a bet against college, WeWork acquires a coding bootcamp
WeWork, the office leasing giant, has acquired the New York-based Flatiron School, a private coding academy, in a gamble on 15-week, $15,000 vocational education as opposed to far more expensive four-year college degrees. The companies did not disclose the precise value of the cash-and-stock deal. At $20 billion, WeWork is tied for the sixth most-valuable startup in the world.
Why it matters: At a time many experts and politicians are questioning the assumption that college is for everyone, the deal bets on a fashionable form of vocational education — coding — as a route to well-paying software jobs. The plans are to expand Flatiron from its single location in New York's financial district into most of WeWork's approximately 170 offices, which would further test the growing idea of bypassing college, at least in the U.S. tech world.