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WeWork’s largest Asia rival, Ucommune, is reportedly eyeing a US IPO to raise as much as $200 million.
In November of last year, Ucommune raised $200 million in a Series D funding round that valued the company at $3 billion. The China-based coworking operator also raised an undisclosed amount in April of this year.
Ucommune’s IPO plans are still in the early stages, however the company is hoping to raise at least $100 million. Though the company had originally targeted a Hong Kong IPO, the market’s uncertainty led it to discard those plans.
Ucommune currently boasts over 100,000 workstations in over 20 coworking locations across 37 cities. Last year, the company acquired several competitors including Wedo, Woo space, New Space, and Workingdom.
