URWork, the working space provider backed by several real estate developers, has merged with incubation-focused counterpart New Space to form a $1.3bn company.
URWork, the China-based working space provider backed by property developers Junfa Group, Dahong Group and Yintai Land, has agreed to merge with competitor and incubator New Space, China Money Network reported on Wednesday.
The deal will create a company with a valuation of RMB9bn ($1.3bn), and comes after URWork closed a $58.4m round in January this year that valued it at $1bn, according to Technode.
URWork runs a network of shared working spaces and also provides services such as…
