WeWork faces stiff competition from local European players ahead of IPO: All you need to know

WeWork faces stiff competition from local European players ahead of IPO: All you need to know

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As the culture of work is going through a massive transformation the need of well equipped offices and big event spaces is growing swiftly. People these days want to work on flexible timings, use the latest gadgets and feel comfortable in their daily working spaces.

Moreover, they want to connect in inspiring working landscapes and have a creative lunch break in a perfect eatery. Also, people who use co-working spaces see their work as meaningful. Undoubtedly, Europe’s tech scene is thriving and that’s reflected in the growing number of some amazing co-working spaces.

One of the co-working space organisations, WeWork, now known as ‘The We Company’, has submitted confidential documents to the U.S. Securities and Exchange Commission for an initial public offering recently. However, many privately held companies like Lyft, Pinterest, Uber and others with valuations of at least $10 billion, have also filed to go public in the recent past.

Founded in 2010 by Adam Neumann and Miguel McKelvey, WeWork has earned a name for itself as a global network of co-working spaces. At present, it is one of the largest coworking space chains in the world with around 2000 employees and 580 office locations across 100 cities in 27 countries.

WeWork might be the one of recognisable co-working company across the world, but that doesn’t mean it’s a quintessential element of co-working spaces. According to the Colliers report, WeWork and IWG have close to 78 percent of the flexible office space in the continent. It’s worth mentioning that, WeWork reportedly had about 6.5 million square feet of space in Europe surpassing IWG’s footprint.

Having said that, with competitors on all sides, the market offers plenty of alternatives to WeWork, including Rent24, Hubble and many local options.

Building Business (Amsterdam)

Founders: Ricardo Van Loenen, Roos M, Guus Meulendijks

It is one of the biggest startup ecosystems in Europe at present with 40.000 square meters and three buildings. By becoming part of the B. community, people get access to the right spaces, toolset, knowledge and social environment to improve your business in the best way possible. In here, one can find work-out facilities, coffee places, events, rooftop parks, living space, working space, and more.

rent24-working

Rent24 (Amsterdam)

Founder: Robert Bukvic

rent24 offers coworking and co-living solutions in Europe. It offers flexible workstations in open spaces, as a single office, communal conference rooms and more. rent24 offers the ideal contact point to work, network and grow flexibly. Alongside efficient workspaces, rent24 also offers co-living, thus provides accommodation in boutique hostels or micro apartments.

Hubble (London)

Founders: Tushar Agarwal, Tom Watson, Rohan Silva

Hubble is an online platform that makes renting office space easier. Their platform means that they allow tenants and office providers to find each other quickly and easily. They focus on co-working, shared offices and private serviced offices within specific hubs in London. The company’s ultimate ambition is to be the “Booking.com” for flexible office space worldwide.

42workspace (Rotterdam)

Founder: Ohad Gilad

42workspace is a co-working office for startups focused on tech-related projects situated in the heart of the famous port city. They are the first and only coworking space in the region that focuses on tech startups. This workspace provides tech-entrepreneurs with precisely the environment they need to focus on growth. 42 workspace offers space for roughly 60 young companies, with a total of 260 work spots.

Design Offices (Berlin)

Founder: Michael O. Schmutzer

Design Offices is the leading provider of corporate coworking spaces with a flexible infrastructure and custom service, tailored to your company and your budget.

Projects (Berlin)

Founder: Giorgio Ciancaleoni

Projects Co-living provides a platform for young professionals to find flexible and versatile living solutions. The company has developed a temporary living concept based on lifestyle and community with shared living units, private flats, which are fully furnished, offers services and entertaining opportunities with other users.

Techspace property group (London)

Founders: David Galsworthy, Alex Rabarts

Based out of London, they provide technology teams with the workspace and resources they need to scale. The Techspace is on a mission to build a global tech platform where scale-ups can shape a better future.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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