Meet Ucommune, WeWork China rival
Ucommune offers co-working space solutions to small-to-medium enterprises
Ucommune offers co-working space solutions. It provides long-term leasing, hot desk, and corporate customization and professional solutions.
Ucommune caters to small-to-medium enterprises across China, Singapore, New York City, San Francisco in California, and London in the United Kingdom. Mao Daqing founded Ucommune in 2015, with its headquarters in Beijing in China.
Ucommune — is the company formerly known as UrWork until a WeWork lawsuit forced a rebrand.
Ucommune claims to manage 160 locations in over 35 cities (30,000 members, including 3,000 international member). That’s primarily China but outside of Asia its reach does include New York, London, Hong Kong and Taiwan, too.
Ucommune bought Daga Architects, a Beijing-based interior design firm, to bring state-of-art designs to its co-working space networks.
The Chinese co-working giant is competing with its US counterpart WeWork both in China and globally. WeWork, which is seeing great potential in China, has sped up its China push since the beginning of this year. In addition to land grabbing in the local market, Ucommune is fighting back with a large-scale global expansion plan.
Company $43.5 million round was received in this August at a valuation of $1.8 billion and it’s reportedly heading for a Hong Kong IPO in the next year.