August 31st, 2020
Although they have been a part of the international business landscape for decades, coworking spaces may not inspire a lot of excitement in more traditional business spheres. While it may appear from the outside looking in that coworking spaces are just for small businesses, startups, or perhaps even college students trying to get their start in the business world, there is much more to them than that.
Coworking spaces are a legitimate resource for high-level entrepreneurs to launch their visions and start businesses that succeed in the most competitive markets in the world. The following are the top five successful businesses that began as startups in coworking facilities.
One of the most recognizable and widely-used social media apps in the world today was launched as a startup at Dogpatch Lab in Dublin, Ireland. Instagram founders Kevin Systrom and Mike Krieger developed their vision for the photo-sharing app over just a few short weeks and launched Instagram in 2010. Since then, the company has was purchased by Facebook for $1 billion and is a virtually indispensable business and social networking tool for individuals and corporations worldwide.
In 2008, Daniel Ek and Martin Lorentzon launched their music streaming app, Spotify from RocketSpace, a coworking facility in San Francisco. Today, Spotify is worth more than $8 billion and is featured by top musicians and artists around the world. With over 138 million premium subscribers in 2020 (up from 108 million in 2019) it is one of the fastest-growing, most successful music services in the world.
Ryan Holmes founded Canadian company Hootsuite and it is one of the top social media management software programs in the industry. As a growth industry, social media management has met with a number of new challenges insofar as improving the ability of managers to maintain their clients’ activity across multiple platforms. Launching from WeWork in San Francisco in 2008, Hootsuite is now valued at over $1 billion.
Started as a platform to fund independent films and filmmakers, Indiegogo was founded in a coworking space in San Francisco. Today, Indiegogo not only supports coworking spaces and platforms but has helped to fund many more and supported many of the startups using them in the hopes of reaching that level of success. Indiegogo has currently raised over $800 million for startups like itself.
Back in 2009, Garrett Camp and Travis Kalanick came together at RocketSpace in San Francisco to solve the problem of never being able to catch a cab in the city. Here, Uber was born and just ten years and over $5.8 billion it is one of the most successful, innovative ride-sharing companies in the world.
These entrepreneurs brought innovative ideas to coworking spaces for development and created some of the most successful and profitable businesses in the world, proving that coworking spaces have long been hubs of creation for successful startups worldwide.