WeWork is going full speed ahead into its Chinese market, having expanded from four locations to 60 locations in just two years.
“That’s one-sixth of WeWork’s 360 locations worldwide. It’s also equivalent to what WeWork has achieved in its early five to six years globally, Sern Hong Yu, regional head of project delivery at WeWork China, said at TechCrunch Shenzhen recently,” according to techcrunch.com.
Yu confirmed that China is WeWork’s fastest growing region thanks to the number of enterprise clients the company has gained.
Despite this, WeWork is still making an effort to support startup companies by offering them discounts, educational programs, and mentorships through a program called WeWork Labs.
In addition to their incubator program, WeWork is venturing into different areas of the market besides coworking. It also manages shared apartments, wellness complexes, and more.
With emphasis on the “make a life, not a living” mantra, they hope to counteract the country’s “996” regimen— working from 9 a.m. to 9 p.m. six days a week.
Despite their massive growth, WeWork is still faced with major competitors in the Chinese market. The biggest, UCommune, claims to operate over 200 coworking spaces mostly located in China. They also recently received $3 billion warrant from SoftBank.