On October 17, 2018, Ucommune officially signed the agreement on the merger and acquisition of coworking space, Fountown. According to the agreement details, Ucommune will be bringing in Fountown’s 26 shared office spaces in Shanghai and Beijing. This new addition will make Ucommune the super IP in the domestic shared office industry.
The acquisition brings together over 200 communities in 37 cities, providing over 100,000 workstations to nearly 15,000 enterprises in the coworking space. Ucommune will officially be the largest shared office space in Asia to this date. In light of bringing the sense of community to its members, Ucommune and Fountown, will be exploring and developing new initiatives to further enhance and innovate the coworking scene. Focusing primarily on the strength of both parties – community, space, and technology.
Speaking of the recent move, founder and CEO of Ucommune, Mao Daqing, said that shared office was bound to usher in a stronger future alongside with China’s boom innovation and tech. We see the market transitioning from the traditional office settings to the modern collaborative workstations.
CEC Capital CEO Wang Ran shared that this successful move cements Ucommune as the prime industry leader of China’s shared office market and that we are entering into a new stage.
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