FlySpaces acquires Malaysian co-working space platform 8spaces

In a bid to expand its presence in Southeast Asia, FlySpaces – dubbed as “Airbnb of office and commercial spaces” – has acquired Malaysia-based co-working space platform 8spaces for an undisclosed amount.

The deal, announced on Monday, aims to provide the ideal launchpad for FlySpaces in Kuala Lumpur and the surrounding region, besides incrementally expanding its networks in the region.The acquisition was made for cash and equity, 8spaces said, in a statement.

The acquisition of 8spaces – a marketplace for boutique spaces for work related activities- assumes significance as FlySpaces currently holds the largest inventory of workspaces in Asia with over 800 available spaces across five cities.

“With 8spaces joining our portfolio, we will further drive our growth and strengthen our leadership position in Southeast Asia, and, at the same time, we are adding a very strong member to our executive team in Lais de Oliveira, with in depth local knowledge and community expertise,” said FlySpaces CEO Mario Berta.

Further, 8spaces founder Lais de Oliveira added that joining the fastest growing regional player will enable 8spaces to fulfill its mission while working with a solid and strong team. “This is the direction 8spaces was headed in any case,” he noted.

With a growing team and regional footprint, Philippine startup FlySpaces has a leading list of partners and clients including Nestle, Heineken, Unilever, Google, and Uber. “This rapid expansion is possible because of FlySpaces’ lean operating structure and expansive network of clients and partners across the region,” claims FlySpaces.

The company will start its Jakarta operations in January 2017, it added.

Also Read:

Ardent Capital, other VCs invests in Thailand’s coworking space Hubba

PH startup FlySpaces raises $500k from Coent Venture, others, launches in Singapore

China: Gaw Capital completes Series B investment in coworking space network naked Hub

Coworking space The Hub Singapore bags $1.1m Series A funding: Report

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.