Co-working space operator naked Hub eyes Australia expansion with Gravity acquisition

Photo: naked Hub website

Shanghai-based co-working space operator naked Hub is planning to acquire Australia’s premium co-working space provider Gravity Coworking as part of its efforts to expand its presence globally, according to a China Money Network report.

The report quoted Jonathan Seliger, CEO of naked Hub, as saying that the deal “will bring together two proven innovators in the Asia-Pacific co-working space, and lays the groundwork for continued rollout across the region and the globe”. No financial details of the planned acquisition were disclosed.

The deal has not been officially signed yet and is expected to be inked next week, a media spokesperson for naked Hub told DEALSTREETASIA.

Gravity Coworking was founded in 2014 by Sergio Pires and Jacqui Esdaile. It operates three co-working spaces in Sydney, Melbourne, and Brisbane, targeting entrepreneurs and professionals. With over 5,000 square meters of space, it has become the premium co-working provider on the east coast of Australia.

“With a range of membership options, from full time permanent desking, through to part time and casual visits, we cater for single entrepreneurs as well as growing small businesses and corporate teams looking for space in which they can host a project or innovation team,” Gravity said on its website.

naked Hub is opening new locations across mainland China, Hong Kong, the Asia-Pacific region and Europe, capitalizing on the fast-growing co-working market.

naked Hub currently has 44 Hubs open or in the pipeline across the world in Mainland China, Hong Kong, Vietnam, Australia, and the UK. It aims to operate 194 co-working spaces by 2020. In October 2017, the company announced plans to go public in Hong Kong this year after a fresh round of fundraising.

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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.

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.