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Home Business

In the Loop: More Investment In Coworking and Servcorp vs WeWork

Cecilia Amador de San JosébyCecilia Amador de San José
May 27, 2017
in Business
Reading Time: 2 mins read
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Servcorp vs WeWork coworking investment

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The Yard Picks Up US$15 Million in  Credit

New York based coworking operator, The Yard, announced earlier this week that it has secured a US$15 million credit line to expand its coworking offering. The funds will be used to expand The Yard’s portfolio, which already boasts 9 locations in New York and Philadelphia. Currently, the coworking operator has five more locations under construction and hopes to hit a total of 5,000 members by the end of the year.

Read the full story here

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Servcorp Criticizes WeWork

In a recent article for the Financial Review, Servcorp criticized WeWork by claiming that the coworking giant is “more susceptible to market downturns” and also called it a “glorified hot-desking organisation with limited technology and a rudimental business model.” According to the AFR article, Servcorp’s critique comes as a response from WeWork expanding into the Melbourne market.

Check out Servcorp’s critique here

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Chinese Coworking Operators Land Investment

The coworking market in Asia is getting more competitive than ever. This week, Beijing Xingpai Group led a RMB 800 million investment round for Chinese coworking operators UrWork and 5Lmeet. The continued interest of investors in the coworking industry is a clear indicator of the potential the industry holds in the Asia market.

Read more about it here

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Cecilia Amador de San José

Cecilia Amador de San José

Cecilia is an experienced writer and editor with a background in strategic communications. She has written articles for Allwork.Space on several topics, including the future of work, flexible workspaces, employee wellness., and more.

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