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Confident in Chinese Market, 'WeWork' Opens New Offices in Hangzhou
en.hangzhou.com.cn  2019/12/04 14:41  City Express

On account of revealing the fact of a "sustained loss" operation situation, WeWork, the US company providing sharing offices, has been facing an unprecedented crisis since it was established in 2010. Its market capitalization is estimated to shrink from 47 billion to 8 billion US dollars in the past few months. Newly opened "WeWork" Offices in Hangzhou seem to anticipate more Chinese market.

Since it entered the Chinese market in 2015, WeWork has opened more than 100 sharing offices in 12 of China's cities. Currently, there are 5 sharing offices in Hangzhou, in which 3 of them are newly opened after the exposure of "operation dilemma".

Single access to the office costs 15 RMB per hour, and the monthly access costs 2100 RMB. To access the office, users only need to scan the QR code. Similar to the standard configurations of the typical office spaces, each of the WeWork offices is equipped with modernized furnishes, a rest area, and café,

According to WeWork's headquarters, China is becoming the most promising market of the sharing office. Their competitor companies such as Ucommune and Kr Space are also looking for more opportunities in the Chinese market.

Author:Lin Jingyi Editor:Wang Yueyun
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