In The Loop: Ucommune, Coworking In India, And WeWork

WeWork’s largest Asia rival, Ucommune, is expected to file a US IPO before the end of the year

Ucommune to File US IPO

China’s largest coworking space brand, Ucommune, has announced it will push ahead with an initial public offering in the US this year. The Beijing-based company was valued at around $3 billion last year in a $200 million funding round. The company has reportedly already filed a confidential prospectus with the SEC. The Chinese company has appointed Citigroup, Credit Suisse, and Bank of America to work on the deal. 

Smartworks Coworking Receives $25M in Funding

Real Assets IPE reported this week that the property arm of Singaporean  conglomerate Keppel Corporation has invested US$25 million in Indian coworking space operator, Smartworks. The pan-India coworking brand currently operates 23 coworking spaces across nine cities. The funding will be used to power Smartworks expansion plans; the company hopes to grow is workspace footprint to 20 million square feet over the next five years. 

The Latest News
Delivered To Your Inbox

WeWork Documentary

Bisnow reported this week that “WeWork’s descent from the precipice of an initial public offering into the depths of a corporate rescue has been dramatic — perhaps dramatic enough for its own film.” According to the report, Business Insider, in partnership with production studio Campfire,  will be producing a documentary about the We Company, Adam Neumann, and where it all went wrong.

For more flexible workspace news, check out Allwork.Space’s daily digest!

Share this article