The rapid growth of coworking spaces around the world has redefined how we work. But there is one glaring question: is this workplace model sustainable?
Today there are around close to 6,000 spaces worldwide. Yet the coworking movement is still in a stage of maturation, making financial independence a lingering issue for many spaces. That being said, the line between old and new economic practices is growing thinner as high net worth companies are starting to see coworking as more than just open space, filled with secondhand furniture and individuals who can’t seem to get a job, but rather as a worthwhile investment.
The last 12 months have been proof, as coworking space operators have raised almost 1 billion USD, with a big part of that money going to coworking champions, WeWork.
Coworking Starts to See Big Money
Funds Raised by Coworking Spaces in Recent Months:
Country | Space | Amount raised within the last year |
USA | We Work | 355 Million USD + 433.9 Million USD= 788.9 Million USD |
USA | NeueHouse | 25 Million USD |
USA | AlleyNYC | 16 Million USD |
USA | Galvanize | 18 Million USD |
USA | Cove | 2.8 Million USD |
USA | Uber Offices | 14 Million USD |
France | Remix | 1 Million Euro |
Italy | Talent Garden | 1 Million Euro |
Singapore | HUB Singapore | 1.1 Million USD |
Read the rest of the article Coworking Europe…
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