The UrWork brand is no more. WeWork Cos.'s Chinese rival is re-naming its shared-office service Ucommune in a retool that may help it side-step potential legal hassles as it pursues global expansion.
UrWork (Beijing) Venture Investment Co. retains its formal name but decided to drop the moniker from all of its hundred-plus locations after WeWork called off a trademark battle against its competitor. The Chinese startup is now in the process of building product lines around the new brand, it said in a statement without giving specifics. UrWork had said previously it was exploring other services that startups need, from marketing and public relations to legal and fundraising assistance.
UrWork, which says it is valued at more than $1 billion, is preparing a major incursion against WeWork, the U.S. leader in shared offices that has gained popularity as bootstrapped startups seek to lower costs and collaborate with peers. While UrWork's expansions have been largely confined to its home market, it has begun setting up in cities from London to Los Angeles and now operates almost 120 locations in 35 cities around the world.