Ucommune, China’s co-working space operator, has officially announced that it has acquired smaller rival Workingdom for RMB 300 million ($45 million), further expanding its footprint in the country’s co-working space.
It , formerly Urwork , is buying Workingdom for CNY300 m ( $ 45 m ) adding over 5000 sq m of prime co - workspace in Shanghai to its portfolio . Ucommune , which purchased Wedo , Woo Space and China Space earlier this year , said it will continue to acquire more co - working companies to fuel its expansion plans . Since being founded in 2015 , the start - up has established itself as a leading co - working and serviced office operator . The company expects nearly 50 % of all office space in China to be co - work space by 2020 .