ThisWeekInCoworking.com

Week 21, 2022

This week we explore a thought experiment, a hiring advantage, believing in community, HR teams doing viewings, acoustics, creators in London, big proptech rounds, M&A in Hong Kong, pouring millions into a hyperlocal economy, and more.
Share
Tweet
Email
Share
Send
Send

This Week is sponsored by…PilotoMail.

Get a sneak peek into all of PilotoMailโ€™s adventures at one of the biggest coworking conferences worldwide.

From details on Sofia Stolbergโ€™s insightful workshop on how to Nail & Scale Your Virtual Office Offering to a diversification panel featuring some of the top players in coworking such as CommonDesk, Bond Collective, and ThinkSpace. You wonโ€™t want to miss this one!

๐Ÿ‘‰ Check this out.

Get future weekly summaries in your inbox.

๐ŸŽ‰ Coworking celebrations.

๐ŸŽ‚ Premier Workspaces celebrates 20 years!

Congrats to Jeff Reinstein and allย the Premier teams!

๐Ÿ‘‰ Read this.

๐ŸŽŠ The Post Workspaces turned 2!

๐Ÿ‘‰ Read this.

โœŠ Coworking impact.

๐Ÿ’™ Unexpected benefits of believing in community

Marc Navarro shares the fascinating how-they-got-here story of the one and only Vika Zhurbas, who headed the formation of the Ukrainian Coworking Association – long before it was obvious why and how it could help workspaces.

It’s an emotional rollercoaster of a story, but has one undeniable always-present thread, how building community always came and comes first.

๐Ÿ‘‰ Read this.

๐Ÿ‡ฎ๐Ÿ‡ช Skibbereen space contributed over โ‚ฌ4M to local community

ConnectedHubs shares that The Ludgate Hub has enabled 350 jobs and contributed over โ‚ฌ4M to the local economy since the 10k sqft coworking space opening in 2016.

Incase anyone’s counting that averages out to ~โ‚ฌ667k and ~58 jobs per year, or โ‚ฌ400/$429 per square foot in hyperlocal economic impact.

๐Ÿ‘‰ Read this.

๐Ÿ“ฐ Coworking news & views.

โญ๏ธ The 10-star coworking thought experiment.

Christoph Fahle shares an interesting thought experiment inspired by/with Brian Chesky, in which future workspaces will be rated by the experience they offer.

Likening these ratings to a hotel-like star system, what would the be the ideal/desired experience for each star rating? Starting from 1-star rating offering just the basics, the open-ended post asks you what a 10-star workspace would look and feel like.

It’s an interesting way to think about the future of flex, and sits pretty close to how Jason from CoWorks described his vision of hotel-like workspace networks last week.

๐Ÿ‘‰ Read this.

๐Ÿ˜ด Could no nights and weekends be the hiring advantage?

Phil Kirschner summarizes a chat he had with Wybo Wijnbergen about the challenge of hiring enough community operators, highlighting that there’s a huge opportunity for flex workspaces to recruit experienced hospitality professionals on the benefit of not having to work nights or weekends.

I like it. Rewarding positions + happy hospitality managers = thriving communities?

๐Ÿ‘‰ Read this.

๐Ÿง A 5x increase in HR teams on flex space tours.

Hopi Stradling shares that Industrious are seeing a five-fold increase in the number of HR teams attending leasing tours since 2020 (and a 10x increase over the last 6 months).

As these conversation shift from sqft to experience and from features to benefits, I’d be interested to see/hear if this shift is happening across the flex workspace market, and how it’s changing the sales and onboarding processes.

๐Ÿ‘‰ Read this.

๐Ÿ‘‚ How acoustics affect workspace experiences

Carolin Bakowski shares how in modern open work environments, acoustic sensory overload can be a hindrance to productivity, satisfaction, and wellbeing. Employers and employees increasingly recognizing the value of good acoustics in their company premises and expect this.

This interesting piece looks into what noises qualify as distractors, our bodies’ biological responses, the impacts of noise-pollution and the commercial consequences of a lack of acoustic environments. As operators of multi-tenancy workspaces, acoustics should be something you keep an eye, and ear, on as capacity fills back up.

๐Ÿ‘‰ Read this.

๐ŸŽ Hidden setting make calls sound better

A fairly hidden iPhone, iPad and Mac setting (only available when in a call) can automatically remove background noise from your end of the call.

This is a perfect pro tip to help your team and members sound even better when making calls from within your space. Now to find the setting to make everyone remember to make sales calls from the phone booth and not from the middle of the open plan space.

๐Ÿ‘‰ Read this.

๐Ÿ“œ 5key takeaways from GCUC in Seattle

Cat Johnson shares 5 keys takeaways in her giant recap of last week’s GCUC in Seattle.

From how there’s so much room for coworking growth, to a coffee-chain analogy, to when fabulous alone isn’t enough, into radical differentiation and the service mindset – Cat takes us through some big ideas you should keep in mind. There’s also some bonus quotes from other conference attendees.

๐Ÿ‘‰ Read this.

๐Ÿค™ The most critical hire for a coworking space?

The Space Crew, shares why community managers are such a critical and vital role for coworking spaces, especially as the makeup of internal communities continue to mix between artists, creatives, remote workers, businesses and more.

Community managers strive to connect with members to help them grow not only their business but also as individuals. They are the key to a successful coworking space that creates a strong and productive community.

– Shared by Katharine Chestnut

๐Ÿ‘‰ Read this.

Share This Week's Summary

๐Ÿ’ป Coworking technology.

๐Ÿค“ How tech helped a coworking co survive the pandemic

Les Shaver shares Christopher and Audrey Hoyt‘s story of how The Pioneer Collective survived lockdowns thanks to a creative stack of technology.

Before the pandemic, one-third of their revenue came from meetings and events, one-third came from coworking memberships and one-third came from private offices. During lockdowns they launched an online guide for surviving WFH, spun their now-empty offices and meeting rooms into production studios, and ramped up virtual membership services promoted on platforms like iPostal1 and Spheremail. Other tech solutions mentioned are Zapier, Gusto and OfficeRnD.

๐Ÿ‘‰ Read this.

๐Ÿคซ New marketplace launches out of stealth

Eyal Lasker shares how Flexspace have launched out of stealth with $6M in funding for their ‘corporate solution for hybrid-remote companies providing employees and employers a seamlessly integrated marketplace to discover, book and manage flexible workspace on-demand directly from the existing workflows’.

Exciting to see how much innovation, funding and passion is being poured into workspace discovery (and distribution).

๐Ÿ‘‰ Read this.

๐Ÿค‘ Tenant experience app announces strategic partnership, funding and eyes IPO.

Spaceflow announced a strategic partnership with Swedish investment group Hydda including leading their Series A funding round with โ‚ฌ8M.

The investment group, which is backed by Vasakronan who in turn owns over โ‚ฌ17.6B of property assets, is aiming to become Europe’s largest PropTech group, before going public with it’s whole portfolio.

๐Ÿ‘‰ Read this.

๐Ÿ“ฒ Management system drops an end-to-end update for their member app

Nexudus released a brand new update of their Passport app on both iOS and Android devices.

This new version comes with more functionality, a fully overhauled UI and better performance. Focus is put on account, teams and booking management. It’s worth noting that this update will not affect white-label versions of the app yet, but an update for those is promised soon too.

– Shared by Nexudus

๐Ÿ‘‰ Read this.

๐Ÿ“ˆ Coworking data.

๐Ÿ‡ฉ๐Ÿ‡ฐ Some numbers on property tech adoption in Denmark.

Jakob Stoumann shares that Proptech Denmark and Colliers just released The Danish PropTech Report 2022.

Some of the key takeaways were a doubling in investment into local proptech (to โ‚ฌ47.3M), that 81% of real estate co’s increased their tech usage (up from 72% last year), and 86% of real estate co’s rely on digital data sources for decision-making.

๐Ÿ‘‰ Read this.

๐Ÿค Coworking market moves.

๐Ÿ“ฒ Workspace discovery & access platform raises $30M round

Upflex announced their Series A funding round. Although we already knew WeWork was participating, there’s also some other interesting firms joining the platform’s term sheet. Newmark and Cushman & Wakefield participated as strategic investors, joining previous investors and making the total funding raised to date $34.1M.

Christophe Garnier, CEO & Co-Founder, notes that the funding will be leveraged to expand their tech and team as they aim to “set the standard” for what accessing the future of workplace feels like.

๐Ÿ‘‰ Read this.

๐Ÿ‡ญ๐Ÿ‡ฐ Hong Kong’s easing of restrictions ignites M&A activity

Jonathan Wright, the Director of Flexible Workspace Consulting for Colliers Asia, notes that we can expect more M&As across flex and coworking spaces in Hong Kong, as restrictions are eased and business return from over two years of working from home.

Examples of investment and M&As include: the Hysan + IWG JV (orig shared back in w32/21), theDesk acquiring Jumpstart Business Centre, and the Executive Center being bought out by Tiga Investments and KKR.

๐Ÿ‘‰ Read this.

๐ŸŒ Partnership on flex advisory across Africa

Ok this one’s a lengthy press release from The Instant Group about their partnership with South African advisory firm Property Solutions Africa.

However it does highlight 2 important topics I wanted to note: a) more and more multinational businesses are turning to operated/assisted flex solutions and b) Africa is a huge market for flex workspaces, I definitely want to do more to share news/trends from this region.

๐Ÿ‘‰ Read this.

๐Ÿ†• New 15,590 sqft space becomes 18th network location

Pacific Workplaces have announced a new 15.5k sqft location in Downtown Sacramento, bringing their total number of locations to 18.

๐Ÿ‘‰ Read this.

๐Ÿ’ผ Brokerage and SaaS platform announce partnership.

Raise (tech-enabled brokerage) and Valve (a flex inventory management system) have announced a partnership to help more businesses find and leverage access to flex workspaces.

The announcement is light on the details, but seems that the brokerage will overlay the inventory data with their flex experts, to provide a hybrid solution to businesses who want flex advisory with a human touch.

๐Ÿ‘‰ Read this.

๐ŸŽ™ Coworking conversations.

Bernie Mitchell and Simone Franke explore how the coworking communities have shifted, and how it continues to pave the path for a more inclusive, diverse, and accessible future of work. They also talk about how the coworking community is more than simply a community; it is a living, breathing organism that is always growing and evolving.

๐ŸŽง Listen to this.

Caleb Parker dropped a whole MIPIM miniseries from the #WorkBold podcast, featuring quick-fire chats and one-on-one interviews with some fascinating coworking, flex and CRE leaders.

๐ŸŽง Listen to this.

๐Ÿ“† Coworking events.

โœ… The rise of the creator economy in London’s coworking spaces

May 27: Join us at Impact Brixton for our May London Coworking Assembly Breakfast. Weโ€™ll be discussing how you can serve London creators, connect with them and help them build their community.

– Shared by Bernie

๐Ÿ‘‰ Read this.

About This.

ThisWeekInCoworking.com is a weekly newsletter summarizing the coworking celebrations, stories, market moves, tech updates and discussions you may have missed.

Newsletters are curated by Hector Kolonas and made available for free via email or this website.

Other Summaries.

Week 25, 2022

This week we see why a VP disliked coworking, new stats from India, increased competition with landlords in Australia, an ask for support, and more.

๐Ÿ‘‰ Read this.

Week 24, 2022

A shift in how space is found, a new coworking awards program, the future of space is flex, soft-landing with coworking in Venice, traditional expansions in US and NZ, could platforms be more supportive, and more.ย 

๐Ÿ‘‰ Read this.

Week 23, 2022

Some topics we see this week: a coworking tragedy, gyms, two hotel + workspace moves, a look into Africa, a huge 4-day week trial, insights behind adapting a 90M sqft portfolio, $500B in value destruction and more.

๐Ÿ‘‰ Read this.

Week 20, 2022

This week we saw a grocer + coworking partnership, AI-driven dynamic pricing, airport lounges added to a booking platform, a P3 hub launch, data on average hotdesk pricing, more cross-Atlantic market moves, and more.

๐Ÿ‘‰ Read this.

Week 19, 2022

This week we explore writing down ideas, see coworking stories from London, Canada, Madrid and insights from Australia, as well as look into mail management, state of flex data syncing, e-scooters, what’s happening with those 800 closed locations and more.

๐Ÿ‘‰ Read this.

Week 18, 2022

This week we explore subtext to Airbnb’s announcement, airline miles from workspace bookings, a billion-dollar takeover, 5 million steps for charity, a mega franchise merger and growth in flex demand and supply across US, Canada and the UK.

๐Ÿ‘‰ Read this.

Week 17, 2022

This week we explore 2 coworking opportunities in appliances & hygiene products, a 300% increase in demand, more M&A, tips for coworking tours, and flex arbitrage.

๐Ÿ‘‰ Read this.

Week 16, 2022

An 8.7% dip in local footprint, a US franchise spin out their software, a new academic study, explore ad spend arbitrage and a space partnership aiming for 500 locations.

๐Ÿ‘‰ Read this.

Week 15, 2022

This week we explore if buildings can have souls, the office sector’s cataclysmic change, if architects suck at designing coworking spaces, see WeWork + Yardi partner up, see US flex demand soar up by 58%, a strategic investment tying up SaksWorks + Convene, a $30M investment into coworking in Tier II cities in India, and a prop dev in London doubling down on flex. And more.ย 

๐Ÿ‘‰ Read this.

Week 14, 2022

This week we explored small-town coworking in Canada, crowdfunding to expand, a ยฃ1.4B drop in UK flex space, 2 more platform acquisitions, underdog city expansions and more.

๐Ÿ‘‰ Read this.