The idea of coworking spaceswas conceptualized to suit the requirements of freelancers, independent professionals, and small startups. But over the years, things have changed. Nowadays, many organizations of varying sizes and budgets opt for coworking spaces.
The major reason why these organizations opt for coworking spaces is to save on lease costs. This helps organizations jump-start their business faster.
Another reason why organizations choose to opt for coworking spaces is due to networking benefits. Coworking spaces help small startups scale faster and there is proof to back this up. Some of the most successful startups who once chose coworking spaces are now multimillion corporations.
Reasons why startups opt for coworking spaces
One of the main reasons why startups opt for coworking spaces is because it is so economical. In coworking spaces, the rent gets divided between other companies and freelancers, so the startup has to pay much less for an office space.
Networking is another main reason why startups opt for coworking spaces. In coworking spaces, startups find other freelancers who are potential clients or partners in projects. They can also find potential employees at these coworking spaces.
Coworking spaces offer many options to startups.
Startups work in a different culture than big organizations. They need a variety of options to choose from. There are startups who have less than 10 members. There are startups that have more than 10 members.
Coworking spaces provide options for every type of startup.
Coworking spaces aspire to work at prime locations in the city that are easily accessible by various forms of transport.
But traditional office spaces at such prime locations can cost a fortune. Coworking spaces allow for these small startups to work at prime locations at reasonable prices.
A coworking space is an ideal workplace for new startups and entrepreneurs where they get traditional office resources at nominal rental costs. Take a look at some of these successful coworking companies and know about their journey.
Uber is an app that provides transport services worldwide. It started off in coworking space in New York and then shifted to San Francisco.
In 2011, Uber was an 8 man team that operated in a coworking space by the name of tech space in San Francisco.
Today, Uber 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.
Instagram is an image-based social platform created by Mike Krieger and Kevin Systrom. What’s not so well known is that Instagram was created in only 8 weeks in Dogpatch Labs which is a coworking space in San Francisco.
The most popular photo-sharing app was originally developed as a basic idea when Mike Krieger and Kevin Systrom locked themselves in the conference room of DogPatch Labs.
Later, Instagram was purchased by Facebook for over $1 billion.
Ofo is a Chinese bike-sharing startup that is environment-friendly 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.
People can hire a bike in any of the 250 countries without having to worry 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.
Indiegogo is a crowdfunding portal for young entrepreneurs who possess amazing ideas but do not have any ideas for the realization of their ideas.
Indiegogo started off in one of the coworking spaces in San Francisco. Crowdfunding and support are exactly what coworking value.
As of today, Indiegogo is the largest crowdfunding platform all across the globe. The crowdfund raised thus far has been $1.5 billion.
Spotify is a music app that started from a co-working space by the name of RocketSpace based in San Francisco.
Spotify has provided 159 million of its active users with active podcasts and music directly on their devices.
Spotify has an estimated valuation of $8 billion today and is one of the most successful and recognizable companies across the world.
Ziprecruiter is a startup that is now a top brand in the recruitment industry. Ziprecruiter has made finding jobs very convenient for suitable job candidates.
Ziprecruiter started off in a coworking space based in Los Angeles. The successful company is helping many other businesses to earn money by recruiting the right talent.
Wanderfly was founded with the objective of bridging the big market gap for travelers
Wanderfly started off as a small startup in the year 2011. According to Wanderfly, traveling should be feasible for one and all. This startup again finds its roots at a coworking space and became a huge hit in a short span of time.
Just after 1 year of operations, it was acquired by the famous website TripAdvisor. This again is proof of a successful startup that started from a coworking space and made it big.
Nuracode is a startup that takes care of all code-based problems. Nuracode also provides solutions for digital strategies.
Nuracode started off as a very small startup in a coworking space but is now a major tech company.
They now cater to the needs of software and app-based development for Fortune 500 countries.
Not only the big businesses have started the journey from coworking spaces but many big non-profit organizations have also done so.
Charity is one of them as it has the mission of bringing safe drinking water to numerous people all around the world. It launched in the year 2006 and has been able to accomplish more than 21000 projects so far.
The secret to their success is coworking spaces.