Co-working Space Ucommune Wins USD 43.5 Mln Strategic Financing
Tencent Tech, 8/14/18
Beijing-based office co-working space provider Ucommune Venture Investment (Ucommune) recently announced completion of RMB 300 mln strategic funding from RK Investment and Asset Management Group ("RK Properties") and Shanghai-based Prosperity Holdings. Ucommune is valued at more than USD 1.8 bln (RMB 12.4 bln) following the funding round.
Last week, Ucommune said that its operating cash flows are once again positive, making it the first business in China's shared office space industry to report positive operating cash flows.
In 2018, several large shared office space brands were involved in mergers and acquisitions as the industry experienced consolidation. Data from business consulting firm Frost & Sullivan shows that China's shared office market has grown by approximately 125.2% annually to increase from RMB 410 mln in 2012 to reach RMB 23.913 bln in 2017.
Editor's Note: Earlier this year, in June, Ucommune announced that it had secured RMB 9-digit Series C+ funding from Shandong Guohui Investment and Silk Road Huachuang Investment Management. For more information on this topic, please see
Co-working Space UCommune Secures RMB 9-digit Series C+, MD 06/08/18 issue.
Keywords: RK Properties Prosperity Holdings Internet Ucommune funding co-working space M&A valuation
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