For many years, people used to believe that coworking spaces were meant for freelancers, independent workers, and small startups. This is not the case anymore, as many organizations, even those with a large size and big budget, are opting for coworking stations instead of traditional office spaces.
Several famous, international organizations that you know of began as startups in a coworking space. Reduced lease costs, mentorship and support, and no office setup and maintenance charges are some benefits that entrepreneurs get when they choose the right coworking space. In this post, we’ll read about the stories of some successful startups that started in coworking spaces and are household names now.
The world’s most famous platform for sharing photos and videos on social media, Instagram started in a small San Francisco coworking space. Mike Krieger and Kevin Systrom launched the company in 2010 as an easy and convenient platform to share images with your loved ones. Do you have any idea how long it took for both of these founders to develop and launch Instagram on Android and Apple’s app store?
They did the entire thing in 8 months and Instagram quickly gained popularity all over the world. Currently, the platform has more than 1 billion active users per month, and Facebook bought the company for $1 billion in 2012.
Uber
Originally launched to tackle the crippling taxi and public transport facilities in San Francisco, Uber began in a small private space and is now functional all over the world. People love it for the ease and convenience it offers to them for booking a cab to travel. Garrett Camp and Travis Kalanick founded Uber in 2009, starting in a New York-based coworking space.
By 2011, Uber was operating with a team of 8 members, including both co-founders, from a tech coworking facility in San Francisco called RocketSpace. Now, Uber is one of the most prominent transport service providers with a valuation of over $70 billion. It operates in more than 80 countries and has expanded to Uber Help, Uber Eats, and more.
HootSuite
One of the most popular social media management tools, Hootsuite started its journey within a coworking facility. Ryan Holmes, the founder, got frustrated by logging into different accounts to manage his agency’s marketing campaigns. Therefore, in 2008, he launched his own social media management tool, naming it BrightKit initially.
Eventually, the name was changed to Hootsuite, and the software is successfully running to this day. Users in almost every country of the world use Hootsuite, and it has more than 18 million active users on a monthly basis. The platform funds any type of startup or idea and is the world’s largest crowdfunding portal.
Indiegogo
There are many young entrepreneurs who have brilliant and creative ideas but don’t have enough funds to implement them. A coworking space in San Francisco gave birth to the crowdfunding portal Indiegogo that helps with the funding of thousands of ideas and projects on a daily basis. It was a smart move that has helped many entrepreneurs around the world realize their dreams.
In a quite short time frame, Indiegogo has raised over $80 million, finished thousands of projects, and started operations in more than 200 countries around the world. The platform’s founder believed that everything was possible through the support and motivation he received in his coworking space. Currently, the platform funds any type of startup or idea, and is the world’s largest crowdfunding portal.
Spotify
When you think of listening to music, which is the first application that comes to your mind? It surely is Spotify, and this amazing startup also started in San Francisco’s RocketSpace, similar to Uber. Launched in 2006 by Martin Lorentzon and Daniel Ek, the music streaming service Spotify completely changed the way people listen to music.
Illegal streaming and piracy were at an all-time high at that time, due to which music labels and artists were losing a lot of money. Spotify was born in an open space to curb piracy, compensate the music industry for their fair share, and allow people to discover and listen to new music conveniently. With more than 150 million monthly users, Spotify is now valued around $8 billion.
Conclusion
These were some of the many companies that began small in a coworking space, and are now world leaders in their specific industries. You need to have the right idea and the right resources if you want your business to grow and scale. If you are a budding startup that just launched, a coworking space will handle most operational and management tasks, allowing you to focus solely on improving your business.
Instead of worrying about the electricity or security of your office, you can think of adding new features to your product or improving your services. Remember, you don’t need a large, multi-story building for a successful business; a small private office space with the right ideas, the right resources, and the hunger to succeed is enough.
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