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Staff members of Meetup are at work in the company's New York office. Photo: Mark Lennihan / AP

WeWork has agreed to acquire Meetup, a New York-based social network that helps organize offline meetings around common interests. No financial terms are being disclosed, but a source says it's valued at around $200 million (including employee retention incentives). WeWork disputes that price-tag, but declined to provide an alternate figure.

Meetup had raised around $18 million in venture funding since 2002, from firms like DFJ, Omidyar Network, Allen & Co. and Union Square Ventures.

  • Why it's a BFD: Because WeWork has been on a shopping spree in 2017, as it seeks to expand its value-add beyond beer taps and an almost impossible to believe enthusiasm. Other acquisitions this year have included Flatiron School (coding training), Fieldlens (mobile collaboration) and Unomy (sales & marketing). It also invested in The Wing (women's co-working club) and purchased the former Lord & Taylor store on 5th Ave. in Manhattan (which will serve as its new HQ).
  • Bottom line: "WeWork's roughly 10 million square feet of leased office space, spread out over more than 170 locations in 16 countries, is used primarily during the day. By contrast, meetups happen primarily outside of working hours... Already, roughly 100,000 people have attended a Meetup gathering at a WeWork location, according to the companies." — Michael de la Merced, NYT

Go deeper

Updated 3 hours ago - Politics & Policy

Supreme Court backs religious groups on New York coronavirus restrictions

Photo: Saul Loeb/AFP via Getty Images

The U.S. Supreme Court ruled late Wednesday that restrictions previously imposed on New York places of worship by Gov. Andrew Cuomo (D) during the coronavirus pandemic violated the First Amendment.

Why it matters: The decision in a 5-4 vote heralds the first significant action by the new President Trump-appointed conservative Justice Amy Coney Barrett, who cast the deciding vote in favor of the Catholic Church and Orthodox Jewish synagogues.

USAID chief tests positive for coronavirus

An Air Force cargo jet delivers USAID supplies to Russia earlier this year. Photo: Mikhail Metzel/TASS via Getty Images

The acting administrator of the United States Agency for International Development informed senior staff Wednesday he has tested positive for coronavirus, two sources familiar with the call tell Axios.

Why it matters: John Barsa, who staffers say rarely wears a mask in their office, is the latest in a series of senior administration officials to contract the virus. His positive diagnosis comes amid broader turmoil at the agency following the election.

Bryan Walsh, author of Future
10 hours ago - Health

COVID-19 shows a bright future for vaccines

Illustration: Annelise Capossela/Axios

Promising results from COVID-19 vaccine trials offer hope not just that the pandemic could be ended sooner than expected, but that medicine itself may have a powerful new weapon.

Why it matters: Vaccines are, in the words of one expert, "the single most life-saving innovation ever," but progress had slowed in recent years. New gene-based technology that sped the arrival of the COVID vaccine will boost the overall field, and could even extend to mass killers like cancer.