Chinese coworking company Ucommune has been building market presence at home, buying smaller rivals Wedo, Woo Space, New Space and Workingdom in the past year. It now claims to have 60 offices in Beijing, 20 in Shanghai and solid presence in Guangdong, Macau and Hong Kong. February, global rival WeWork bought Naked Hub, together the two claim to have 37 locations in Greater China and 10,000 members each; WeWork expects to grow its member base to 40,000 by year end. Ucommune, which raised $17m in Last year (valued at $1.4bn), plans to seek further capital at a $1.65bn valuation.
Chinese coworking company Ucommune has been building market presence at home, buying smaller rivals Wedo, Woo Space, New Space and Workingdom in the past year. It now claims to have 60 offices in Beijing, 20 in Shanghai and solid presence in Guangdong, Macau and Hong Kong. Last year, global rival WeWork bought Naked Hub, together the two claim to have 37 locations in Greater China and 10,000 members each; WeWork expects to grow its member base to 40,000 by year end. Ucommune, which raised $17m in February (valued at $1.4bn), plans to seek further capital at a $1.65bn valuation.