Starting a business can be a daunting task, but it doesn’t have to be. One option that has gained popularity in recent years is starting a business in a coworking space. Coworking spaces are shared office spaces where entrepreneurs, freelancers, and small business owners can work together in a collaborative and supportive environment. Not only do they provide a cost-effective solution for setting up an office, but they also offer a wealth of resources and networking opportunities. In this blog post, we will take a look at some well known businesses that started in a coworking space and went on to achieve great success.
Companies that started in a coworking space.
1. Instagram.
Instagram, a social media platform that allows users to share photos and videos, started in a coworking space in San Fransisco. The company was founded in 2010 by Kevin Systrom and Mike Krieger, and it began as a simple way to share photos with friends. Did you know it only took 8 weeks for the pair to develop the app and release it to the Apple and Android stores? As the platform grew, it quickly became a go-to destination for businesses looking to connect with their customers and build a community around their brand.
Today, Instagram has over 1 billion monthly active users and is one of the most popular social media platforms in the world. The company was acquired by Facebook in 2012 for $1 billion just 2 years after Instagram was created.
2. Indiegogo.
Indiegogo is the worlds largest crowdfunding website. It was formed in 2008 by Danie Ringelmann, Eric Schell and Slava Rubin, using a coworking space in San Francisco in their early years. The idea for the platform came from their own experiences of trying to make their own ideas come to life, but not being able to raise funds.
Our founders were inspired to create Indiegogo based on their own experiences trying to make ideas come to life. Danae Ringelmann produced a play but couldn’t get funding to take it to the next level. Eric Schell struggled to fundraise for a Chicago theater company. Slava Rubin tried to raise funds to find a cure for Multiple Myeloma, the disease that killed his father. Then, they had an idea. They could use the internet to bring people together to empower innovation.
Their story shows how far they’ve come from a coworking space, pointing out that 10 million people visit the website each month and 19,000 campaigns launch monthly.
3. Spotify.
Spotify revolutionised the way people listened to music. began its journey in a coworking spot named RocketSpace. The company was founded in 2006 by Daniel Ek and Martin Lorentzon, and it began as a way to make it easy for people to discover and listen to music. The pair created the company as a response to widespread piracy. Artists and recording companies protested against the illegal practice because it meant loss of potential earnings so Shopify was born as a service the was better than piracy and compensated the music industry at the same time.
Today, Spotify has over 345 million monthly active users and is one of the most popular music streaming platforms in the world. The distruptive company went public in 2018, and it’s valued at over $50 billion.
4. Uber.
The ride-hailing service Uber was founded in 2009 by Travis Kalanick and Garrett Camp, and it started as a way to make it easy for people to get a ride in San Francisco. However, as the company grew, it quickly expanded to other cities and became a global phenomenon. The thought processes behind Uber started developing in a coworking space and with the help of the surrounding professional community, they were finally able to devise a solution to this problem.
Today, Uber is valued at over $70 billion and is one of the most valuable private companies in the world.
5. Hootsuite.
Hootsuite, a social media management platform, was also started in a coworking space. In 2008 founder Ryan Holmes of Vancouver, Canada, became frustrated that he needed to log into multiple social media accounts for his marketing campaigns he would run for his agency. He eventually came up with a solution to the dilemma by creating his own social media management platform which initially was named BrightKit.
Today, Hootsuite has over 18 million users and is one of the most popular social media management platforms in the world, used in almost every country and territory. The company has raised over $250 million in funding with a value of over $1 billion.
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These are just a few examples of the many businesses that have started in coworking spaces and gone on to achieve great success. These companies have proven that with the right idea and the right resources, anyone can start a business and make it thrive. Coworking spaces offer a supportive and collaborative environment for entrepreneurs to work on their ideas and turn them into reality. Furthermore, the success stories of these businesses show that coworking spaces can be a breeding ground for innovation and creativity, leading to the birth of some of the most successful companies in the world.
Inspired?
Ready to become the next big name in your industry? Working at Purple Office will give you the focus, motivation, and inspiration you need to take your startup to the next level.
