With the rising popularity of co working spaces, many organizations, both small and large, freelancers, outsourcing agencies etc are switching to co working space due to their consistent, positive results. A co working space is a shared office space rented out to multiple people who may or may not be employed by the same employer. From writers, designers, and salesmen to even freelancers, one can find a vast professional diversity in these work spaces. Businesses generally rely on co working spaces due to the facilities provided which they could otherwise not afford such as communal conference rooms, desks, reception service and internet which support almost all kinds of business models.
In fact, co working has such a huge impact on businesses and startups that many household names like Uber and Instagram were once operating out of such co working spaces. Let’s take a look at some of the industrial titans and their history with co working.
With a tiny group of 8 people and a small shared work space in San Francisco, California called Rocket Space, this influential giant started working along with its co-founders Garrett Camp and Travis Kalanick back in 2011 to efficiently evade San Francisco’s awful taxicab service. Today, Uber is the biggest cab service provider in the world with various features and its incredible prices. The biggest advantage they had with co working was the ability to be flexible and go on without worrying a lot about renting costs which enabled them to receive funding from organizations like Google ventures which helped them expand to thousands of cities worldwide.
Instagram is perhaps the most popular and influential social media platform of this generation which has given rise to millions of bloggers, businessmen and marketing experts over the years. Like Uber, Instagram too was born in a tiny co working space (Dogpatch Labs) with a small team and an innovative idea. The creators of Instagram – Mike Krieger and Kevin Systrom developed the iOS app in just eight weeks after repeated failed ventures which led to a whopping 1 million users signing up in just two months after which, Facebook bought the company for a billion dollars in just a year and a half when they were only 13 employees strong.
Spotify is another immensely successful startup that came to life from the same co working space as Uber – Rocket Space. With a goal to provide music to every mobile device, Spotify started in 2006 with a small team in Stockholm, Sweden where it later grew into the giant it is. The number of users had grown to 2 million in September 2011. Now it has an estimated value of 8 billion dollars with more than 160 million active users as of 2019.
Starting as a film funding platform in a film festival in San Francisco, Indigoego was a very ambitious startup by the wall street analyst Danae Ringelmann. Due to lack of funds their team settled for a co working space where they could save money and grow their network at the same time. The founder of this platform says that the co working space provided them all the support they required enabling them to network and learn at the same time which resulted in their current success. This company has currently raised over 1.5 billion dollars for millions of ideas to take shape while operating in over 200 countries. This mammoth of a crowd funding platform helps hundreds of ideas receive the funding they require to take off.
Many new companies have taken their first leap in Coworking space in Mumbai, Bangalore and many other locations. This certainly goes to show that co working spaces not only assist on finances, but also provide that crucial networking and connection potential a budding startup needs. Executed correctly, the results can involve reaching heights to rub shoulders with other giants in our business world. At the end of the day, It all comes down to the value a co working space provides to the companies that use them. One such vital player in the space is iKeva, with co working spaces spread across the country, providing amazing services and ambient working experiences.