WeWork Acquires Spacemob Team to Expand into Southeast Asia
This week, WeWork announced simultaneously a US$500 million investment into Southeast Asia and its acquisition of Spacemob. With the latter, WeWork essentially “pops” Singapore, Jakarta and Ho Chi Minh City through Spacemob.
We have been expecting a consolidation of the sort for co-working spaces for quite some time. What took us by surprise was how quickly the consolidation happened. Two weeks ago, naked Hub merged with JustCo, the co-working space operator of JustGroup. Shortly after, Distrii, a Chinese coworking operator, announced plans to begin renovating 11 floors in Republic Plaza to include shared offices, retail and “lifestyle” – right in the heart of the CBD. Now enter WeWork, who will soon include at least 2 new locations along Robinson Road. With all these spaces, the “Coworking Alley” in Singapore will now extend from Tanjong Pagar to Raffles Place, hence providing more choices for workers.
With the entry of regional and global players, we can also expect a higher level of service. Having spent some time with both WeWork and Spacemob, we can see the similarities in the co-working spaces’ design and “philosophy”: for members to make a living, thrive and have a better work life.
While WeWork has acquired Spacemob’s growing footprint in Southeast Asia, the greatest gem they have gained is really the founder, Turochas “T” Fuad, and his dream team. There are many synergies in WeWork and Spacemob team cultures and their way of work. As space providers, they employ good workspace design, allowing for efficient and productive business endeavors, in addition to the community’s managers’ contributions to a work-play-live motto, with regular luncheons and community events. As partners, they’re open-minded, understand the big picture and are collaborative. Every conversation begins with a “yes” and “how can we work together?”
Want to get in on the WeWork x Spacemob action? There are some major price benefits to booking with Spacemob early. Receive a 5% rebate when you book a space at Spacemob with GorillaSpace. Want more details? Leave us your info below and our team will drop you an email!