UR Work preps for major global expansion

China's major co-working space company, UR Work, announced it will provide 100,000 desks with an area of 700,000 square meters for innovative companies in 32 cities worldwide over three years.

"We expect to provide a platform for entrepreneurs to exchange new commercial modes with talents from other countries on the global stage," Mao Daqing, founder of UR Work, said at its second anniversary on Tuesday.

By 2030, co-working spaces will make up 30 percent of the office market in China, according to a report released in March by the US-based real estate services provider Colliers International Group Inc.

Founded in 2015, UR Work now has about 30,000 customers from 1,490 companies working in its spaces in 20 cities around the world, with a market valuation of up to seven billion yuan ($1.17 billion) after its second round of financing, Mao said.

The company signed an agreement with Ali Cloud, a cloud computing service provider subsidiary to China's e-commerce giant Alibaba Group, involving its global strategy at the anniversary.

The company will also cooperate with Shenzhen Deep Dive Education Co Ltd, which will organize training classes for entrepreneurs working at UR Work to improve their social, language and physical skills on the way to going global.

Dai Wei, founder of ofo, a Chinese bike-sharing company, said its bike stations will be constructed near UR Work co-working spaces worldwide.

Entrepreneurs working at UR Work will be given free access to ofo bikes from May 4, Dai said.

Its cooperation with Beijing-based Wumart supermarket will establish linkage of consumption, content production and co-working spaces.