Ucommune Empowers Chinese Women Entrepreneurs with US$1.5mn Investment in She Power
BEIJING, May 8, 2018 /PRNewswire/ -- Asia's fastest growing co-working space, ucommune has announced the US$1.5mn angel-round investment in She Power, a China-based shared consulting platform for female professionals and entrepreneurs, as part of the company's broader strategy to grow the community membership.
"A strong desire for professional development and personal growth have brought forth the emerging She Economy worldwide. Female entrepreneurs and working women have become an increasingly visible force as more and more female entrepreneurs aggregate on the ucommune platform. It's incredible that She Power's international team leverages their internet insight, community-operating capability and strong executional power to grow a community exponentially," says Dr. Mao Daqing, founder and chairman of ucommune.
Dr. Mao adds that community is central to the operation of coworking business. She Power has been created in response to consumers' increasing need of spiritual resonance and continuous learning. Investment in She Power reflects ucommune's ongoing commitments to empowering more and more women entrepreneurs, as part of the overall global expansion strategy.
Founded in Dec 2015 in Shanghai, She Power focuses on developing "Woman Leadership" and connecting businesswomen through "Sister Club" in China. Comprised of online and offline courses, conferences and corporate visits, She Power has over 200,000 subscribed members among which 400 C-suite executives and entrepreneurs. The network aspires to impact the growth of 300million Chinese women through building programs on knowledge, experience and network.
Over the past two years, She Power has quickly expanded in Shanghai, realising positive cashflow through operating network memberships, online-offline course, woman leadership conferences, multi-cultural program and product merchandising. This round of investment from ucommune will be deployed to revamp IT infrastructure, expand network, and build a woman-oriented paid content platform through tapping the community's needs of "career development, monetization, beauty and relationship."
Meanwhile, ucommune will support the growth of She Power through the patented accelerator program in a bid to build China's largest woman learning platform. In the future, ucommune is committed to leveraging the strength of She Power to provide more relevant services and resources for working women in China.
"The exponential growth of She Power community over the past two years has proved the robust demand of personal development for modern Chinese women," says Ms. Qiu Yumei, founder and CEO of She Power. "Chinese women are the most ambitious women in the world. There are more working women in China than rest of the world. As female leaders, we are committed to uniting all forces to build a platform that serves the good of the many women." She Power will expand to four more cities in China this year to make bigger impact.
As the first unicorn startup in the coworking sector in China, ucommune has built a strong member community through incorporating artificial intelligence and big data to its proprietary IT platform. The O2O model in tandem with the China's mass entrepreneurship policy has considerably increased start-up operation efficiency and revitalised latent commercial real estate spaces, contributing positively to building an active and synergistic online and offline community.
As of May 2018, ucommune has completed C-round funding to reach a market valuation of US$1.7bn, covering a total area of ca 400,000 sqm in 160 locations, 35 cities. Backed up renowned investors such as Sequoia Capital, Zhen Fund, Gopher Capital, Sinovation Ventures, Hongtai Fund, Noah Wealth and Qianhai Wutong Acquisition Fund, ucommune is committed to increasing the total covered area to 1.2 million sq.m. over the next three years and promoting consumption upgrading in China. It has currently integrated over 800 accredited service suppliers and established a synergistic eco-system made up of 38 enterprises.
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 and 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.
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