As per the agreement, Workingdon will now merge with ucommune. This will add to ucommune’s established portfolio another 20 locations, four product lines, 50,000 sq.m., 500 members and 15,000 registered members, as per a press statement.
This is ucommune’s fourth such deal in 2018: in the first quarter, ucommune acquired and merged with New Space (in January), and Woo Space and Wedo (in March).
“Workingdom’s ecosystem of co-working pivots around working, living and consumption and has created an internet-based platform combining physical terminal, service platform, content creation and resources. Through the merge, Workingdom complements ucommune’s strengths in space design, community operation, data management and community culture,” said Dr. Mao Daqing, Founder and Chairman of ucommune.
Over a course of three years, ucommune’s service has realised full-scale online and offline integration. Apart from owning physical spaces that are located worldwide, it has created an integrated smart office servicing system to connect the members in the network more efficiently.
Recently, it launched a business networking platform called U Bazaar. This is an open platform integrating media publishing, shared resources, as well as partnership solicitation with the registration accessible to people worldwide.
Founded in 2015 by real-estate veteran Dr. Mao Daqing, ucommune offers long-term leasing, hot desk and corporate-customisation solutions and professional services across a broad spectrum for small-to-medium enterprises. Backed by renowned investors such as Sequoia Capital, Zhen Fund, Noah Wealth Management, Sinovation Ventures, Ucommune posts a valuation of US$1.7 billion after raising its Series C round and acquisition of Woo Space.
The firm has grown to cover over 160 locations in over 35 cities globally, including but limited to Singapore, New York, Los Angeles, Beijing, Taiwan, Hongkong, Shanghai, servicing over 6,000 enterprises, 100,000 individual members in total.