Greg Isenberg
@gregisenberg727K followers
CEO of Late Checkout, host of The Startup Ideas Podcast, creator of Ideabrowser
Late Checkout, Ideabrowser, The Vibe Marketer +3
exit story · 2019 · community builders
How Greg Isenberg Sold Islands to WeWork (2019)
Islands was built by Greg Isenberg and sold to WeWork in 2019.
Key facts
- Buyer
- WeWork ↗
- Year
- 2019
- Price
- Undisclosed
- Revenue at sale
- —
- Years operated
- 3 years
- Channel
- Direct sale
The story of Islands
Islands was a group-messaging and community app that Greg Isenberg started in June 2016. It let groups form around specific needs, such as how long the group would last and what kind of content it shared. Colleges were the first target, and the app spread to about a dozen campuses, where it was sometimes described as Slack for college students. Its investor Indicator Ventures reported strong engagement and viral growth, and the company raised a seed round in 2017.
WeWork acquired Islands in June 2019, at a time when it was buying a number of startups to strengthen its community and member-networking features. Terms were not disclosed. Greg joined WeWork and briefly served as its Head of Product Strategy.
In 2023, as WeWork headed into bankruptcy, Greg described Islands as a Discord for local communities and said he had held very little WeWork stock. He went on to co-found the holding company Late Checkout, where much of the former Islands design team later worked.
Lessons Greg Isenberg shared
- 1.Never count on stock options or a company's paper valuation; treat them as a bonus.
- 2.Get the core business economics right before expanding into many side businesses.
- 3.A community creates trust and attention that products can be built on.
Paraphrased from the maker's public posts and interviews (see sources).
The maker
See the Islands product page or Greg Isenberg's full profile for everything they have built since.
Other exits by Greg Isenberg
5
5by
→ StumbleUpon · 2013
by Greg Isenberg
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Sources
- medium.com — medium.com/indicator-ventures/islands-x-wework-24f3e3892a8c
- x.com — x.com/gregisenberg/status/1719722523145683389
- gregisenberg.com — gregisenberg.com/about-me
Facts are taken from the maker's and buyer's public statements and press coverage. Prices and revenue are shown only when publicly stated; self-reported figures are not independently verified.
Keep exploring
Islands acquisition FAQ
Who bought Islands?
Islands was acquired by WeWork in 2019 from Greg Isenberg.
How much did Islands sell for?
The price was not publicly disclosed.
How long did it take Islands to get acquired?
Islands was sold about 3 years after launch, through a direct sale (sold directly to a buyer, often a competitor, customer or acquirer that reached out).
What did Greg Isenberg learn from selling Islands?
Never count on stock options or a company's paper valuation; treat them as a bonus. Get the core business economics right before expanding into many side businesses.