WeWork, the space rental “startup unicorn” which calls itself a technology company and is losing over USD 2 million daily, is setting up a new esports subsidiary. As uncovered by Bloomberg, this unit is trademarked as “Play By We”. This trademark was filed on 4 July 2019 in United Kingdom, and it cannot be found in the US trademark database as of last search. It was also revealed that despite an incoming layoff of thousands of WeWork employees, Play By We has already hired some staff. Seen below are the services offered by this new unit, and you can view the whole trademark application here. What a pivot!
If you do not know, esports organizations are largely surviving on investors’ cash, which is quite a huge amount. But very few of them are profitable except for the top teams. Is WeWork going to do a special rental discount for new esports organizations? Or even more crazy, hold esports tournaments in their current WeWork office spaces? Time will soon tell.