Singapore's Temasek Holdings and Shanghai’s Trustbridge Partners are considering increasing their stake in WeWork China to take majority ownership of the company.
As Asia’s biggest office space provider Ucommune is preparing to repeat its rival’s miscarried feat, the question arises as to what it can offer that WeWork couldn’t.
On December 11, Ucommune submitted its IPO prospectus to the SEC, as the company plans a public listing on the New York Stock Exchange, under the ticker symbol “UK”.
Ucommune, previously UrWork, the only Chinese unicorn in the co-working space, announced on August 14 that the company received a new round of funding from RK Properties and Jingrong Holdings, raising 300 million yuan ($45 million) at a post-money valuation of $ 1.8 billion.
On July 27, the Chinese subsidiary of the world's largest co-working space operator, Wework China, announced that it has completed Series B financing of $500 million. Lead investors include TrustBridge Partners, Temasek Holdings, SoftBank Group Corp. and its Vision Fund as well as Hony Capital.
At 9:30 a.m. on April 12th, Chinese co-working space startup Naked Hub held an internal management meeting to announce that it would sell the company to the U.S. co-working company WeWork for 2.5 billion yuan ($400 million).
2017 has seen the rise and fall of numerous new technologies and business models, stunning and mediocre products, and the rise and collapse of tech giants. At the end of the year, Tencent launched into the Top 10 companies in technology industry.