WeWork’s largest Asia rival, Ucommune, is hoping to raise $200 million in a 2020 US IPO. The China-based coworking operator is hoping to raise at least $100 million. The IPO plans are still in the early stages and subject to change, according to sources familiar with the matter. According to Deal Street Asia, should the IPO be successful, Ucommune would use the funds raised to further its expansion plans and “re-fill coffers drained by a race with WeWork to set up shared office spaces from Beijing to Shenzhen.”
India-based coworking space operator GoodWorks announced this week that it plans to open Bengaluru’s largest coworking space in Electronic City. The upcoming coworking space will boast over 70,000 square feet and it will offer workspace, cafes, event space, amphitheater, courtyard, creche, and gym.
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Franchise flexible workspace brand Serendipity Labs launched LINC, its own streaming service and content distribution platform. The platform enables users to broadcast talks, product launches, seminars, town halls, and performances, among others. The platform allows users to record, edit, and archive events, as well as distribute video content. LINC stands for “learn, inspire, network, and collaborate.”
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