The Gathering Spot, Atlanta‘s popular networking club, is splitting up from its parent company, Greenwood. The two parties started feuding shortly after Greenwood, a Black-owned digital banking platform, acquired The Gathering Spot in 2022.
The former owners of The Gathering Spot filed a complaint against Greenwood CEO Ryan Glover and board member Paul Judge earlier this year, saying the fintech company has not paid the money it owes them. However, as Blavity reported, the two parties settled their dispute in July.
On Dec. 14, The Gathering Spot announced that it had split from Greenwood.
“Ultimately the goal is to try to position both of these companies for success,” Ryan Wilson, The Gathering Spot’s CEO and co-founder, said in an interview with The Atlanta Journal-Constitution. “We wish each other well. Both of these companies play an important role in the community.”
The two former partners also said their decision to split is not related to the disputes they had and they remain on good terms moving forward.
“Both companies remain supportive of each other’s growth as they transition back to operating as separate entities,” Glover told The AJC. “Greenwood and The Gathering Spot remain committed to the community, continuing to offer innovative solutions and services that foster growth and empowerment.”
Glover remains a board member of The Gathering Spot. Greenwood also remains a shareholder of The Gathering Spot following the split. A spokesperson told The AJC Greenwood account holders who are paying for membership still have access to multiple TGS, including in Los Angeles, Washington and Atlanta.
Wilson and his co-founder, T’Keel “TK” Petersen will hold a town hall in Atlanta on Monday to discuss future plans for their company.
“Look, I started this business with one of my closest friends and we’ve gone on to build a business that we’re really, really proud of,” Wilson said. “It’s going to be an exciting season for us.”
The Gathering Spot’s first location opened in Atlanta in 2016. The company has been providing a space where Black professionals can work and network.
