By Julie Ng
WeWork and FlySpaces share the goal of easing the growing pains of small businesses by providing workspace solutions. It's no longer just about growing fast but growing strong. WeWork understands that aside from a space that is beautifully and thoughtfully constructed, an authentic team culture, enriching challenges, and work-life balance is conducive for productivity. These elements are crucial for companies with the elusive-but-attainable dream of becoming the next unicorn. And FlySpaces will help bring that to Southeast Asia!
Headquartered in New York, WeWork has been spearheading the coworking movement since 2010, providing shared workspaces and communities. WeWork is currently valued at roughly USD16 Billion and established in 11 countries including Asian cities such as Hong Kong, Shanghai, Beijing, Seoul, and Bangalore.
Coworking: A Shift in the Workspace Industry
This remarkable explosion of new small businesses and the digital nomad revolution carved a demand for workspaces with flexible terms that suit the bootstrapping and rapid scalability of a startup. This is where coworking comes in.
There is a romantic notion involving coworking. It paints a picture of a trendy urban space converted from an old loft, warehouse, or a fashionably decorated space hidden away in a corporate building. It welcomes you with open arms and the prospect of being part of a community that is buzzing with inspiring energy from tech workers, entrepreneurs, and teams from promising startups. You’re finally at home.
Another reason that coworking is attractive to the new wave of creative and driven individuals is that living through a recession may have eroded their trust and loyalty for large corporations and job security. Under the belief that “nothing is permanent after all”, they would instead take the leap of faith by starting their own businesses or go freelance. Gone are the days of wanting to work for the superstar company; people now want to become the next Zuckerberg instead. Marked by the economic downturn, companies also saw it necessary to reduce cost on traditional office spaces and make the most of technology through remote workers.
What’s next for WeWork?
After establishing itself in Hong Kong, Beijing, and Shanghai, the coworking giant sets its eyes on more dense Asian cities with young populations. Singapore, Kuala Lumpur, Jakarta, and Manila are prime examples of fast-paced, high-IQ cities where new businesses are mushrooming left and right. FlySpaces AKA the Airbnb of Workspaces, has made its home in 7 such Asian cities. WeWork’s partnership with Asia’s leading workspace marketplace is a strategic way to set foot in the Southeast Asian market. This may be just what the rapidly transitioning vibrant cities need.