Chinese co-working space provider Ucommune Thursday announced the withdrawal of its initial public offering plan from the New York Stock Exchange where it originally filed in December 2019.
Amidst the ongoing WeWork IPO debacle, hardly any other co-working space operator would dare to dream about a public listing.
China’s coworking space provider Ucommune announced on Nov. 14 that it will close a $200 million Series D round of funding three months after its previous one, making it the largest single round financing for the unicorn.
Ucommune, previously UrWork, the only Chinese unicorn in the co-working space, announced on August 14 that the company received a new round of funding from RK Properties and Jingrong Holdings, raising 300 million yuan ($45 million) at a post-money valuation of $ 1.8 billion.
On March 9, office-sharing enterprises UCOMMUNE and Woo Space announced a merger. This merger is an important strategic step for UCOMMUNE after its previous merger with Hongtai Space two months ago. Now UCOMMUNE is valued at nearly $1.7 billion (11 billion yuan).
Ucommune announced it has fully acquired Hontai in what is the largest acquisition the office sharing industry. Ucommune is valued at nearly 9 billion yuan.