Ambler Yards, home to Benjamin’s Desk co-working space, will soon hang a new sign over the space that reads simply, 1776.

Five years after kicking off Benjamin’s Desk as one of Philadelphia’s first and premier co-working operators, the company has decided to merge with Washington D.C.-based start-up incubator 1776, writes Natalie Kostelni, for the Philadelphia Business Journal. 

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The two companies are pitching the transaction as a merger of equals though reports have indicated that 1776 was in a weakened state. The merger — which Evan Burfield, co-founder of 1776 had denied was happening in any way or shape just a few weeks ago — is an attempt to bring new money and stability to 1776’s co-working space and incubator, which had been hemorrhaging cash as it sought ways to generate revenue, become cash-flow positive and eventually turn a profit, a goal it never achieved, the story continues.

The two have had a relationship and to some, the merger won’t be a surprise. “We have been on parallel paths with 1776 for the past four-and-a-half years,” said Anthony Maher, co-founder of Benjamin’s Desk.

Benjamin’s Desk members work from 1776 space and they have delved deeper with 1776’s the Union platform, which Maher said is akin to LinkedIn for entrepreneurs. After some time, the two companies started to have “deeper conversations” with each other and “frank conversations” with their members on how to better help entrepreneurs and fledgling companies grow.

“1776 is best in class around programming and incubation,” Maher said. “When you marry those together, we have something that can change the Northeast Corridor.”

As a result of the merger, Benjamin’s Desk will shed its familiar moniker and become simply known as 1776. “We love that brand and it will exist on some level,” Maher said about Benjamin’s Desk. “There’s blood, sweat and tears in that brand.”

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