BEIJING, May 2, 2018 /PRNewswire/ -- China's coworking unicorn ucommune announced the launch of UBazaar, an online marketplace for products and services for ucommune tenants. Armed with a critical mass of suppliers and clients along with innovative technologies, mobile app based UBazaar is the new standard for open sourcing and smart coworking.
On the third anniversary of ucommune's founding, ucommune is pleased to announce a brand new online marketplace service, UBazaar, for ucommune tenants. "UBazaar provides a synergistic platform for businesses around the world to co-create, co-invest and network. It's a reflection of our commitment to creating an integrated experience that empowers entrepreneurs and SMEs alike to co-create and collaborate," said Dr. Mao Daqing, founder and chairman of ucommune, the coworking unicorn from Beijing.
Ucommune members have been increasingly attracted to our facilities because of the continuous technology upgrade such as the upcoming facial recognition and smart conference. UBazaar is the latest complementary product offering for members, which is an online to offline (O2O) service offerings that would allow members to book desks, conference rooms and other resources. Built on the values of openness and inclusiveness, UBazaar App features content publishing, information sharing, financial advisory, e-commerce, social network, advertising services to name a few.
"Leveraging Big Data and Cloud technologies, as well as ucommune's community operation and data management strengths, UBazaar enables the transformation of ucommune from a physical coworking space into a virtually connected global network that helps businesses of varied sizes to collaborate, source and trade efficiently and effectively, "said Mr. Xu Binchao, CTO of ucommune and chief designer of UBazaar.
UBazaar taps into the growing trend of open source and smart coworking. Market research firm, Markets and Research, reported that the global open source market is expected to grow from US$11.4 billion in 2017 to US$32.95 billion in 2022. Emergent Research reported that they expect global coworking members to increase from 1.7 million in 2017 to 5.1 million in 2022.
An integrated network that empowers entrepreneurs to access China
With numerous challenges ranging from supplier sourcing to partnership negotiation faced by foreign companies entering into Chinese market today, the launch of UBazaar has created a favourable solution that helps foreign players navigate through the market complexities. By aggregating local suppliers, services and merchants on one single platform, UBazaar offers an unrivalled business-scaling proposition that is both cost-effective and efficient. The UBazaar mobile app has so far had over 500,000 downloads, 100,000 active users and 160 communities and our annual user had grown by 400% year on year.
"Ucommune's clientele are the perfect target audience for our range of IP Protection solutions, catering to freelancers and SMEs who wants to cut down on their administrative time spent to focus on the core business. Our business has grown multi-fold since joining the platform, and there is no better platform to exchange ideas, explore partnerships, and grow together, without necessarily sacrificing the fun bit," said Mr Yan Changchun, founder and CEO of Zhi Guagua, an integrated trademark registration and IP protection company headquartered in Beijing.
Commitment to growth in the South East Asia
Leveraging the strong China know-how, data management and local operating expertise, ucommune is committed to creating a vertically integrated platform that extends beyond its current premise of 160 locations in 36 cities, to connect its members of varied sizes with synergistic resources. After the acquisition of Wedo Space and Woo Space, ucommune has over 100,000 individual members and 6000 corporate members that are building their commercial success on the virtual and physical advantages of ucommune.
"UBazaar offers a unique and competitive solution that extends beyond the limit of physical spaces and territories, to increase the exposure of our members to various business opportunities globally. With more and more members leveraging our platform resources to grow, we are committed as ever to expanding out footprints in South East Asia, in a bid to support more regional businesses to scale through empowering them with easy access to China," said Dr. Mao Daqing.
For further information please contact:
Ucommune global PR Support
Visit http://www.urwork.cn to access more information about the facility, marketing programs, funding and mentor programs from the company.
About UrWork (Beijing) Venture Investment Co., Ltd:
Founded in 2015 by real-estate veteran Dr. Mao Daqing, Ucommune (formerly known as URwork) is a leading co-working space provider in China offering long-term leasing, hot desk, corporate-customization solutions and professional services across a broad spectrum for small-to-medium enterprises. Backed by renowned investors such as Sequoia Capital, Zhen Fund, Noah Wealth Management, Sinovation Ventures, Ucommune posts a valuation of U.S. $1.7 billion after C round and acquisition of Woo Space, as of March 2017 and has grown to cover over 160 locations in over 35 cities globally, including but limited to Singapore, New York, Los Angeles, Beijing, Taiwan, Hongkong, Shanghai, servicing over 6,000 enterprises, 100,000 individual members in total. Ucommune is the largest and most recognised co-working space brand in China.