“Coworking” as a word has yet to catch up in Yangon. But you will certainly have heard about Instagram or Uber, won’t you? Here’s the three most famous companies that started out in coworking spaces.
But first, what does “coworking” mean?
Coworking means working in a shared professional environment. Imagine a place between a library, a cafe and an office. This is a coworking space, a place where you can focus, with plenty of communal areas, complimentary refreshments and fast internet connection.
A coworking space allows business entrepreneurs and start-up companies to keep their overhead costs low but also create useful business connections to generate more business opportunities.
If you are not convinced yet, here’s the proof of how insanely successful businesses that started out in coworking spaces can be.
The App that gave rise to the “selfie” craze, Instagram started out in a coworking space in San Francisco. After just 2 months from its launch, it counted over 2 million registered users. After 2 years, it was acquired by Facebook for approximately US$1 billion in cash and stock.
One of the world’s biggest crowdfunding websites, Indiegogo has redefined what it means to be entrepreneurs and to raise start-up capital. The website allows start-ups to fund their company or idea with online donations.
No introductions are needed. Uber, the App that is changing “the logistical fabric of cities around the world,” is now in 599 cities around the world and has revenues of over US$6 billion.