Executives from several co-working firms have expressed their belief that the industry is ripe for major consolidation over the next few years. The most recent example of this trend was in May, when a group led by LinkedIn co-founder Reid Hoffman announced plans to buy up to 20 companies and create an online platform called Workplace. WorkReady Suites “There are a lot of companies in the three-to-10-location phase looking for additional capital or other scenarios, so I think to some degree the race is on,” Burke said. president Austin Flajser predicted co-working would follow a similar path to the hospitality industry, with larger brands bringing a number of others under one umbrella, while Convene's Michael Burke observed that scale was necessary to survive a downturn.
Executives from several co-working firms have expressed their belief that the industry is ripe for major consolidation over the next few years. The most recent example of this trend was in May, when a group led by LinkedIn co-founder Reid Hoffman announced plans to buy up to 20 companies and create an online platform called Workplace. WorkReady Suites president Austin Flajser predicted co-working would follow a similar path to the hospitality industry, with larger brands bringing a number of others under one umbrella, while Convene's Michael Burke observed that scale was necessary to survive a downturn.