Release time：2025-09-12
Compared with the US market, the Chinese market is like a different time and space. American companies often have a sense of confidence and want to expand globally with a model, but the Chinese market seems to have a force field that can instantly transform any business model that comes across the ocean. Many companies abroad have well-functioning business models that seem no worse than their Chinese counterparts, but they all fail in China.
Although WeWork became the fifth largest unicorn in the world after being invested 4.40 billion US dollars by SoftBank, after more than a year of development, WeWork China only has 13 offices in Beijing, Shanghai and Hong Kong, while Ucommune, which was established 5 years later, has more than 100 co-working spaces in 30 cities across the country.
We had two options, to implement the localization strategy ourselves, or to ask a real China expert how to do it. Adam chose the latter. In addition to the previous choice of Hony Investment and Legend Holdings as its investors, on April 12 this year, WeWork acquired Naked Heart Society for 400 million US dollars (about 2.50 billion yuan) (read the Tiger Sniff article "How did Naked Heart Society get half naked?"), and announced that it has officially signed a contract with Feng Group and Hony Investment to implement its personalized door-to-door customization and operation solution Powered by We in China.
