The WeWork office company have bought a large stake in Wavegarden in a move that sees the company expand far beyond their normal operations. WeWork is an American company which provides shared workspaces, technology startup subculture communities, and services for entrepreneurs, freelancers, startups, small businesses and large enterprises.
Initially, this sizeable investment may seem a little out of the blue from a company that designs contemporary office spaces but on closer inspection, the move seems to fit into place. WeWork is clearly doing well financially with an annualised income of $1 billion and raising $3.1 billion from outside investors for expansion. It seems logical that a company that offers a revolutionary new age service would want to invest in the Wavegarden that is also pushing the boundaries of technology in a sport like surfing to make it accessible for more people.
Adam Neumann, CEO of WeWork is also a keen surfer which may explain the investment further. He frequently surfs in Long Island and has been known to take winter trips to Hawaii. Wave pools are becoming increasingly popular worldwide with those who may have never had access to the coast to learn to surf before, Newmann echoes this when he says: “We are trying to expand the sport to people who live further inland”.