WeWork is going to acquire Meetup
news.crunchbase.com
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In bigger cities, bars will usually only host you if you can provide them with a revenue stream afterwards. This works for social events, such as speed-dating or social Meetups (I've run both types), but not so well for technical meetups UNLESS they get sufficiently large.
Also, companies are usually willing to host Meetups because it's free and easy recruiting that's nearly guaranteed to bring out top talent. This is usually why recruiting agencies are almost always totally willing to give up space for events and sponsor for food and/or drinks; it saves them a ton of time that's usually lost to prospecting.
The first meetup I had was a bit of a vicious cycle - we had no home, which made scheduling hard, which made getting speakers lined up hard.
The second meetup I ran started out a Pivotal Labs which was amazing. Free food, free drink, nice atmosphere, good location - and most importantly, we had "the second Wednesday of every month", which made scheduling ridiculously easy. Actually running the whole meetup was a level of magnitude easier after that. Current venue is also similarly awesome. I wouldn't go back to not having a regularly-scheduled venue.
In my experiences companies, hackerspaces or coworking places are all quite happy to host tech meetups and it's rarely a problem.
OH MY GOD, YES.
Hounding people for sponsorships is almost a full time job. It is extremely hard to do this while travelling. In fact, most of the Meetups I've been to, and some that I've hosted, took place at WeWork offices!
Are Wework spaces similar across the world? I have to work in a central London one sometimes and I find it horrendous; it is almost literally good for nothing; way too noisy and loose for meetings (even in the closed spaces; they are glass and not soundproof) or actual concentrated work (with noise cancelling headphones it is bearable). At lunch, because most of the space is open and attaches to the central area, it smells like as mix of whatever people are eating which can be interesting (kebab onion with garlic sauce mixed with pizza mixed with fish mixed a spicy curry smell) and lingers for a long time. Nice looking wooden floors so when people wear heals you can hear them literally everywhere when they walk around (programmers who are supposed to be focused with noise cancelling headphones all look up every single time; noise, all glass, heals (probably female) so they look). Beer opens at 4 pm so drinking commences at that time too. Too many people allowed in there so if you didn't strictly book rooms they are all full and meetings cannot ever go over time.
It is more a clubhouse than an office. I could not really work there for long stretches so I wonder if all these places are the same as a formula or this one is just unique that way.
If WeWork wants to do one thing to improve their spaces, sound engineering is it. Figure out how to make the offices sound-proof, install sound absorbing soft furnishing or even carpet (currently everything is a hard surface, so sound absorption is basically zero).
I also note that they terms of the acquisition have not been mentioned. If it is an all stock transaction it could be an example of Wework exploiting their astonishing valuation to buy companies with stock. This was something that happened a lot in the dot com boom and didn't end well. The other thing was startups trading services to each other and the overvaluing them in dollars. For example a startup I worked for gave a database company $110,000 in advertising on the web site in exchange for a data base license and some training. They both reported it as income (we got $110,000 in advertising buys!, we got $110,000 in database sales!)
The smaller groups have to pay a fee too which gets put on the members. Usually it's very small and I'm happy to pay two dollars a year to goto a language exchange if it helps keep the group alive.
Dragon was advised by Goldman Sachs, whose compensation was fixed regardless of the deal terms (and regardless of the sustained performance of the combined entity) so long as the deal closed - all too common in the world of investment banking. Essentially, the seller's advisors had every financial incentive to skimp on doing due diligence on the buyers; had they received compensation in the same form as the founders, the outcome might have been very different. One hopes that Meetup received better advice than Dragon did!
(Disclosure: I work for Belstone, a tech-enabled merchant bank where we attempt to align ourselves much more closely with the companies we advise and partner with. Feel free to reach out via the email in my profile if you want to learn more about what we do - we're hiring for software engineering and associate positions!)
>It wouldn't give me information without paying so I stopped using it.
?
Except for creating groups, I'm not sure if anything is "hidden"...
The organizers have to pay though, and that sucks. But I can understand the business model.
For the amount of money raised by WeWork I don't know why Meetup would take a deal like that and why WeWork wouldn't just use it's massive capital chest to do so. Generally speaking all stock transactions are ways to (1) incentivize founders/management to stay (2) it's a cheaper way to capitalize a transaction.
I work a lot in coworking spaces and they usually don't seem like a cash cow for the owners. Now WeWork seems to target the B2B and luxury segment of coworking with prices 1,5x-3x of the competitors'. Interesting strategy.
So is the coworking just a vehicle for the appreciating property prices? Or are they much more popular than I thought? Or am I missing something else?
One thing that I think helps is that historically, consulting rooms have been a big desk in a 4x4m room with 1-2 client chairs facing the tenant. In a co-working space, you could accommodate 3-4 desks/tenants in the same area, especially if you're open plan. Generally speaking, you can charge 3-4 people for a desk more than you can charge a single user for a room.
More business than ever is online, and shared boardrooms suffice for meetings, private client calls, etc. Most people now get by without loads of filing and other storage space so a fairly standard desk (smaller than what we used 10-20 years ago) does the job.
Far too many people at coworking spaces seem to be there for networking, or are simply not serious enough about work.
I moved to a 'business center' (like Regus) which has a much quieter and more professional environment. Couldn't be happier.
I tried Regus for a couple days, but it felt no different to me than a coworking space. Maybe it was that particular Regus location.
Only issue was the dearth of areas to take calls, but even that was only mildly inconvenient, since I'm usually on mute, and could duck outside for those.
The good part is that they have a lot of locations.
I'll be very happy to pay a premium for a quiet working space, even sound proof where I can work alone in peace. I wonder if there are any startups tackling this need
If WeWork buys real estate to operate co-working quasi-franchises on that real estate, and uses the profits to fund further asset acquisition, then that's a pretty similar model.
"Meetup" has become a common noun in many circles tech-related and beyond...i.e., most people know about meetup.com and what it does.
But despite this ubiquity, what happened?
I stopped going to meetups a while ago because most just didn't seem worthwhile. A lot of people I know did the same. If this trend persisted across the service, did the company do anything about it?
I dunno. My perception of their failure is anecdotal...maybe they're doing better than it seems to me.
I just find this outcome sad, especially given how rare ventures like this are--ones that bridge the gap between offline and online.
That leaves the people who have something to gain - "new in town" groups run by real estate agents, tech meetup groups run by recruiters, etc etc. These communities tend not to develop a long-term following because most people can smell the opportunism from a mile away.
The best Meetups tended to be run by professionals - non-profits, museums, etc, who have something to gain but tended to be aligned with the interests of the participants. Those are sadly few and fr between.
I liked Meetup for a lot of uses, but you really did have to sift through a lot of cruft. I think their problem isn't really any execution failure, and reflects simply the level of difficulty of community-building.
It may work OK for generating new community and connections, but as the parent said, you need to have some staying power, and that is either going to be related to some kind of revenue (leads, etc) or some really dedicated hosts that will probably burn out in a few years.
In fact, our local meetup has even had high-profile language contributors and members of the ISO speak.
The platform is in the middle of a revamp, with parts accessible only through the old interface. The messages subsite always felt like it was engineered with the technological limitations of 10+ years ago and never improved. Not good signs.
I have no idea of the impact of the acquisition. WeWork doesn't operate in my country. Luckily I have found a zero cost location for my semi technical meetup. I'll be happy if nothing changes.
By the way, there are many technical meetups around me, but there are many more non technical ones (meeting people, yoga, hiking, foreign languages, politics, really anything). A friend on mine told me yesterday he estimated a 90/10 ratio. Not what you can fill coworking spaces with.
In my experience sports, board games and language exchanges work well.
I am sure WeWork will use the platform to drive bodies to their physical locations which is a smart move.
What parts of Meetup seem stagnant to you? What other innovation is there left to do? They let you create a meetup and describe it, make it paid or unpaid, allow +1's, post pictures, let people join, and have a message board. What else is missing? It already doesn't degrade to no-JS, but is not yet at the point where there's random shit happening all over the place without me asking. Please don't encourage them to move in that direction.
From the other side, discovering relevant meetups is hard. Searching all meetups in my area one keyword at a time sucks.
Unless I'm missing something, this is not easy at the moment.
Biggest one, SMS broadcast to alert attendees of venue changes, gate codes, etc. It doesn't coordinate schedules or assist in transportation. The core site doesn't have to offer these things, but it sure as well could make it easy 3rd parties to integrate with Meetup itself.
Second is discoverability and even seeing what is on the timeline of events, or prediction about which events will be well attended.
Meetup could have been an amazing backplane for coordinating and mediating activities. Could have been. Hasn't been. Needs to be supplanted in the same way that overflow replaced experts exchange.
It is barely an MVP for coordinating multiparty activities. It still feels like a 700 line single file php application that updates a status masthead and sends email.
Either way, meetup.com is just a platform for hosting and discovering these events. There's not much that makes meetup groups inherently different from other types of clubs/organizations. It's up to the organizers and the attendees to actually make the events worthwhile.
In my home town, I've been able to meet a lot of people in tech (including Civic Tech), government, and data science that I wouldn't have met as easily otherwise since I mostly work from home. Most of the AI/Machine Learning meetups here are 100% full with long waiting lists. And I ended up having a relationship with someone I met at one of the meetups.
Just like any social platform, I think the advantage of using Meetup is that you'll get to a different audience than Facebook. In my case I've found the audience for Meetup to be smaller (i.e. far fewer RSVPs) but much more engaged, perhaps as a byproduct of the sheer volume of things on Facebook making it harder for yours to stand out. The breakdown of where attendees come from is roughly 30/50/20 Meetup/FB/Email, and the incremental time for me to post in all these places is very small.
The pricing is, as you say, odd, and I too have run into the frustration of expanding a single group to a neighboring city without wanting to drastically increase costs.
I think interest has been declining a bit, more "flakes" (sign up don't show) . The photo meets-ups I used to go to have shuttered, some of the programming ones are meeting more infrequently. The Social and board game meets-ups seem to be going ok. My partner is an organizer of a social group just pays the yearly fee to keep the group free.
Though in the past 10 years honestly participation ebs and flows. One organizer of "nerd fun boston" ran an event a couple events a week for a couple of years. He got a good group of regulars going to science lectures and history talks/walks around boston (he met his wife though the group). That group still hangs out occasionally, though more "virtually" through a Facebook group now, meet up doesn't do the social network as well I guess...
The site update recently looks nice, but seems not to have made it more functional.
I encourage people to go to meets-ups. Its nice to meet new people and get out of your social bubble. We meet mostly really nice people people going to these events.
Even better, try to start your own meet up for one of your interests! In any reasonably sized city it’s not hard to get 10-20 people to get started.
EDIT: I find it works best if the meetup group topic is really broad. Then you plan specific meetups with narrow topics that indulge your interest. That way you have a very diverse group of attendees to pull from.
Of course, things may vary depending on region. In places like Silicon Valley, maybe it benefits you to have more niche meetup groups.
Donno of anything specific to the freelance writer community though.
We're totally out there :)
1. Schedule a meetup to meet players ( soccer, in my case) and organize a game at the local ground.
2. Repeat Step 1 for 3-4 months
3. We now have enough regulars and switched over to Whatsapp. Easier to coordinate, schedule games, manage rosters and because Whatsapp is so ubiquitous, you don't need to download/track one more app/website.
4. Exit Meetup.
It was similar for other activities too - board games, AI/ML groups and so on.
Meetup was always going to struggle with a viable business model this way. Groups of people once formed into groups will drift away to more familiar, informal ways of staying in touch.
Maybe monetizing services on top of their longterm real estate leases is the key to profitability: "workspace as a platform". Meetup fits that model well with a huge userbase.
https://qz.com/966956/wework-wants-to-make-its-business-look...
The thing is, when I sat down and analysed the business model I realised that if it worked successfully, no one would use the platform again. I.e. if you wanted to meet new people, if you used my app and it had a 100% success rate, you wouldn't use it again.
I think that is the difficult problem to solve with an app in this space and explains Meetup's poor UX. If it actually worked, you'd just become friends and switch channels to whatsapp/FB/whatever and cut them out.
Just saying that this is a route available to you if you're so inclined and your life circumstances allow you to take this path.
I want to tell you what i like and what i don't like about Meetup:
What i like:
- "Advertising" of the meetup via email: This is very good. People will be reminded, it will suggest new people your meetup depends on tags / topics and so on
- Uncomplicated for attendees: Sign up or not sign up, this is quite easy for people
What i don't like:
- The user interface: It is horrible. Especially for a meetup organizer. The editor is so limited, it is not intuitive at all
- Innovation / Change: Since nearly 4 years, meetup has changed nearly nothing. Recently they are working more and more on their iOS app (a lot of updates coming in) and a new brushed layout for the website was released, but it took way to long. Smaller changes, really iterating over it, this is what i am missing.
- Organizing a meetup: They are tools missing. Meetup is a kind of simple CURD app. But really tools for meetup organzers are missing. I know tons of companies who want to sponsor a meetup (location, food, etc.). I see tons of meetups who suffer from finding a speaker or a sponsor. I know tons of speaker who want to test their next conference talk befor eon a meetup to get feedback. Connect them. Make it easy for meetup organizers to organize one. I personally see so much potential in this area. In this regard i often ask myself "What is Meetup doing with all these employees?"
- The "pro" version: This is a joke. I tried it out. I guess the target group are meetup groups that should run all over the world (like the wordpress one). But for normal organizers, useless IMO. I expected so much from it (Statistics, deep insights in my community, what are the members interested in, etc.). So much potential.
The problem with meetup is, that without effort from people meetups will be created, 1 meetup will be held, they are disappointed that only a hand full of people showed up and they will never do it again. Because they realize that organizing a meetup is a huge effort. And only time the number of people will grow. But you need time for this.
I see a lot of groups that were created recently, but never have a meetup scheduled at all. This is sad.
Why i don't create a "better meetup"? I would love to. But the big issue here: Meetup.com has the critical mass. And signing up for a new platform etc. I wouldnt do it as an attendee. Ideas?
My unwritten goal is to provide the opportunity in Düsseldorf to visit a tech meetup every workday. This is what i fight for and i help other organizers around to do this while connecting them and offer them my support and knowledge. A year ago i wrote a blog article about "Lessons learned from running a local meetup" [2]. I think i need to write a new one. I learned so much new things in the last year. And we try to write/document everything we need to do to organize our meetup on Github [3]. Not completed yet, but it is growing.
[1] https://meetup.com/Web-Engineering-Duesseldorf/
[2] http://andygrunwald.com/blog/lesson-learned-from-running-a-l...
Our big idea is simple ..... we don't compete with meetup.com!
We are a event listing service only. We work hard to list events and make the resulting data Open Data so many people can reuse it (and they do!).
We do not sell/do tickets - if organisers want that they use the service of their choice and we link to that. We do not do members lists - organisers can use the email list or whatever of their choice and we link to that.
Your point about it being hard to organise events - so true. To support event organisers in Scotland, we run a private email list and private real life discussion events to make connections, allow discussion and share resources but it's always hard.
As for your goal - we would love to help you list all your local events :-) Anyone can add - you don't have to be the event organiser to do so: https://opentechcalendar.co.uk/event/new
Congrats to the Meetup team!