The founders are back in charge.
Ryan Wilson and TK Peterson — co-founders of “The Gathering Spot” — announced Thursday the company is once again independent because they have reacquired majority ownership.
Atlanta was the first location of the Gathering Spot, and it is the company’s signature club. The Gathering Spot also has locations in Washington, D.C. and Los Angeles.
The Dec. 14 announcement appears to end a contentious chapter in the life of the Gathering Spot (TGS).
In May 2022, the Black-owned company announced it had been acquired by Greenwood, a Black-owned banking platform with high-profile players. Its CEO is Ryan Glover, and Rapper Killer Mike and former Atlanta Mayor Andrew Young were co-founders.
But that merger did not go well. Earlier this year, the two entities were publicly at odds, and a series of lawsuits and countersuits were filed.
On Thursday afternoon, Wilson sent an email announcing he and Peterson had been able to acquire majority ownership of the company. Greenwood, however, will be a minority owner and no longer involved in running the company.
In his email, Wilson hinted there would be more changes.
“We have a lot to share and are hard at work building a number of things that I believe our community will be proud of,” Wilson wrote. “TK and I are entering this new chapter with an expanded vision for the community focused on three new strategic pillars that we will introduce after a period of listening and conversation.”
The Gathering Spot will host a Community Town Hall in person on Monday, Dec. 18th at 6 p.m. for members only. But it is offering access for anyone who would like to listen to the Town Hall virtually.
“With this new chapter, we are accepting new members into our community, and we welcome you to join us,” Wilson continued. “This community makes dreams a reality, and we couldn’t do it without you… This next chapter is going to be special.”
The Gathering Spot was conceived a decade ago when Wilson and Peterson were both in Washington, D.C. Wilson was attending Georgetown Law School, and Peterson was working as a portfolio manager at Fannie Mae.
The pair put together a business plan, and then they sought funding – getting rejected repeatedly. Finally, they were able to secure space in the Northyards campus just off North Avenue near Northside Drive.
It has become a favorite co-working location where people can dine, network and attend large community meetings. For example, the monthly Transform Westside Summit, which used to be held twice a month, has made the Gathering Spot its regular convening space.
“Since the beginning, it has always been our mission to bring people together,” according to the history on the Gathering Spot’s website.
