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Ucommune Seeks US IPO

China-based coworking giant, Ucommune, is getting ready to file a US initial public offering (IPO). The company, valued at $3 billion, aims to raise as much as $200 million in its 2020 IPO. Back in 2018, Ucommune had plans to file for a Hong-Kong IPO, however it reassessed the decision amid market uncertainty. 

Ucommune is WeWork’s biggest rival in Asia and it has recently faced growth challenges as the China coworking market shows signs of overheating. Click To Tweet Last year, the Chinese coworking market experienced a significant amount of consolidation and a report found that 40 coworking brands disappeared between January and October of 2018. 

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Ucommune acquired several coworking rivals last year, including Fountown, Woo Spaces, and Workingdom. The company currently operates coworking spaces in China, Hong Kong, Singapore, Taiwan, and the US.

ABOUT Cecilia Amador de San José
Cecilia Amador de San José

Cecilia Amador de San José, Senior Associate Editor of Allwork.Space, is based from wherever her laptop is. She enjoys traveling and visiting new flexible workspaces. If you'd like Ceci to check out your workspace, feel free to reach out to her at [email protected] (and send a plane ticket). View all posts by Cecilia Amador de San José

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