Coworking unicorn looks for $3 billion valuation in IPO

China’s first coworking unicorn Ucommune is seeking a $3 billion valuation in an IPO (initial public offering) in Nasdaq.

Ucommune, which was valued at $2.6 billion during its last funding round, is going forward with a New York IPO after considering going public in Hong Kong.

In November, the company announced its valuation had reached $3 billion after raising $200 million in a Series D round of funding.

Currently, the coworking operator is Asia’s largest provider with over 200 locations in 37 cities globally. It has plans to expand to 350 cities in 40 countries in the next three years.

“We want to be more than a company that provides a place to work,” said founder Mao Daqing. “When customers enter our premises, they form partnerships, network, and do business.”