Thriving In Smaller Markets
For years, coworking was seen as a working space for freelancers, independent professionals, and tiny startups. But, things have changed. Many companies of various sizes and budgets choose coworking venues as workstations today. By saving on lease costs, organizations can jump-start their business faster. The fact that successful coworking goes hand in hand with collaboration and networking means that companies can benefit from the useful connections they can establish in acommunity. Coworking does help startups scale quicker and the fact that some of the successful startups who once chose coworking venue as their home base are now prospering multimillion corporations is genuinely inspiring. Let’s look at how some of them evolved, and the lessons learned from these household names.
Everyone knows this sharing economy pioneer which has grown to become a worldwide transport services provider. But not everybody is aware that it started off in a coworking space in New York and then in San Francisco. Back in 2011, a team of 8, including the co-founders Travis Kalanick and Garrett Camp operated from RocketSpace – a tech space in San Francisco. These days the company is represented in 80 countries across the globe with operations in almost 800 metropolitan areas. It has also expanded to Uber Eats, Uber Freight and Uber Help offering various transport-related services.
Spotify is yet another amazing tech startup that began in RocketSpace. Currently, this streaming service’s audience comprises 159 million active users, its annual revenue equals nearly $5bn (in 2017), and its value is estimated at $8 bn.
This crowdfunding portal for young entrepreneurs who have brilliant ideas but no funds for their realization was also born in one of the coworking spaces in San Francisco. Setting up such a company in a coworking space was a smart move because crowdfunding and support is exactlywhat coworking members value. Today the company is known for being the largest crowdfunding platform in the world thanks to which over $ 1.5 bn has been raised.
Instagram is yet another example of successful startups. This company that was once San Francisco-based revolutionized social media platforms. The concept was born in Dogpatch Labs – a coworking space where Kevin Systrom and Mike Krieger created a new concept of social media that gained popularity across the globe and was purchased by Facebook for a $1 billion.
This new startup thinks green and fosters sustainability. The Chinese bike-sharing startup is based in a London coworking hub and since its opening in 2014 has managed to launch the service in 21 countries around the globe. You can hire a bike in one of the 250 cities in the world without worrying about where to leave it and how to lock it. Currently, Ofo is the largest “station-free” cycle-sharing company promoting an environmentally friendly approach to life, sharing economy and sustainable living. Who knows, perhaps the company will become a bicycle alternative to Uber.
As the experience of many world-known brands and up-and-coming businesses shows, successful coworking may take a new startup to the heights that no one can predict. Thanks to the opportunities of collaboration, networking, and ideas sharing that coworking brings, a shared workspace may become a stepping stone for your business success!
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