The Gathering Spot becomes independent splits from Greenwood
Jackson Reed
Published Apr 12, 2026
TK Peterson and Ryan Wilson announced the split in an Instagram post on Thursday.
ATLANTA — Editor's Note: The video above is from a previous version of this story.
After a long business dispute with its latest -- now former-- acquirer, The Gathering Spot (TGS) has officially split from the company that bought the networking club.
Founders of the club, TK Petersen and Ryan Wilson, announced the split with purchaser Greenwood in an Instagram post on Thursday where they claim the club will be better than ever in its newest chapter.
"We have an expanded vision for our future and a lot of new things to share that we think you will be proud of. Even more, we look forward to listening to you as we prepare to enter this new chapter," said Peterson and Wilson in their post.
Greenwood, a fintech company, bought TGS back in April. The two companies said they had a vision to "uplift Black and minority communities" together before the split. TGS in Atlanta has become known nationwide as a private networking club for Black and minority business owners.
The latest move comes after a business move caused outrage among members who were concerned about the departure of a Black founder and the hiring of a white executive earlier this year.
In an email sent directly to members of The Gathering Spot, an announcement was made that Mike McCloskey was hired as the chief financial officer for Greenwood. The email also stated that McCloskey's responsibilities would include the "oversight of all TGS locations." However, an Instagram post, which has since been deleted, explained that McCloskey filled a Greenwood open position that was vacant since 2021.
An early Instagram post on the TGS page, which has since been deleted, announced that TK Petersen, one of the founders who serves as chief operating officer was moving on "to other endeavors."
According to Petersen's club bio, Peterson is operating as a co-founder and chief financial officer of the networking club.
The split also follows the budding end to a saga playing out in lawsuits between TGS and its former acquirer when a settlement was finally reached. Both companies have agreed on a settlement that "marks an end of friction" in their previous dispute, according to a previous statement. The details of the agreement have not been released.
RELATED: The Gathering Spot settles its business disputes with company that bought the networking club
"This community makes dreams a reality and we sincerely appreciate you," said the latest Instagram statement about the split. "What TGS has accomplished since 2016 is only possible because of what we have created together. We made history! Our work is not done though and it's time to take our work together to higher heights."
Petersen and Wilson will be holding a town hall on Monday, Dec. 18 at 6 p.m. at the Atlanta location and virtually to start a discussion about the split from their acquirer. Click here to find out more information about the town hall.
