DESTINATION ACQUISITION: Flatiron School, a coding bootcamp owned by WeWork, has acquired Designation, a Chicago-based company that offers a digital and design educational program. Terms of the deal were not disclosed.
Founded in 2014, Designation offers online and in-person classes at its headquarter in Chicago (where the company operates out of a WeWork office.) Tuition for its 24-week program costs $15,800, and the company claims that alumni earn, on average, $60,000 to $65,000 in their first year after graduation. The company has graduated more than 500 people, according to the Chicago Sun-Times.
This move marks the latest in a series of education-related acquisitions by WeWork, following its $4 million “acqui-hire” of MissionU in May 2018 and purchase of Flatiron School last October. Both transactions are stock deals; the latter is worth approximately $40 million, reports Reuters.
