Ucommune Makes Strategic Investment in Workingdom, Strengthening Brand in Eastern China

Published on May 4, 2018 - By Allwork.Space - Press

• Beijing-based coworking brand, ucommune (formerly UrWork) has merged with workspace brand Workingdom
• The merger adds a further 20 workspace locations to ucommune’s expanding portfolio
• ucommune is the fastest-growing and the largest coworking community of its kind in China

Asia’s fastest growing co-working space, ucommune, signed today the Memorandum of Understanding around the strategic merger of Workingdom. The merger will see ucommune partnering with Workingdom in establishing the largest coworking platform China based on member data, and will strengthen the service offering in the Yangtze River Delta region.

In the first quarter of 2018, ucommune completed the merger and acquisitions of two leading spaces – New Space in Jan 2018, Woo Space and Wedo in March 2018, cementing its unrivalled leadership in China. As the fourth merger of its kind this year, the acquisition of Workingdom adds to ucommune’s established portfolio another 20 locations, four product lines, 50,000 sq.m., 500 members and 15,000 registered members.

“Workingdom’s eco-system of coworking pivots around working, living and consumption and has created an internet-based platform combining physical terminal, service platform, content creation and resources,” says Dr. Mao Daqing, founder and chairman of ucommune.

“Through the merge, Workingdom complements ucommune’s strengths in space design, community operation, data management and community culture. I am delighted to integrate Workingdom into the ucommune family, as part of our ongoing commitments to strengthen our overall service capacity. I am confident that our joint force will see the growing community going from strength to strength.” added Dr. Mao Daqing.

Over a course of three years, ucommune’s service has realized full-scale online and offline integration. Apart from owning physical spaces that are located worldwide, it has successfully created an integrated smart office servicing system, to connect members in the network more efficiently and effectively. In 2018 they also launched the business networking platform called “U Bazaar”, an open platform integrating media publishing, shared resources, as well as partnership solicitation with the registration is accessible to people worldwide.

Founded in April 2015, ucommune has completed C-round funding to reach US$1.7bn valuation. It has established 160 locations in 35 cities, setting the benchmark for the coworking industry in China.