UrWork forms JV with Shanghai Fountown

By Tan Chee Yuen / EdgeProp | September 26, 2017 11:21 AM SGT
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Co-working space operator UrWork (Beijing) Venture Investment Ltd has announced its strategic joint venture partnership with Shanghai Fountown Entrepreneur Services Co. Ltd to extend their footprint in Asia and reinforce community support.
Mao Daqing, founder and CEO of UrWork and Wan Lijiang, founder and CEO of Fountown, have been appointed as the Chairman and CEO respectively. The equity-swap collaboration will see both parties working together on locations, membership system, vertical integration of resources across the value chain, as well as the export of technology, management and expertise. This first-of-its-kind partnership in China marks a significant milestone in China’s co-working history.
UrWork operates in 100 locations in 30 cities in China with total aggregated space of over 3.2 million sq ft. Meanwhile, Fountown operates in 25 locations in Shanghai, Beijing and Chengdu in China, and has 20,000 workstations.
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