Ucommune

Ucommune is a Chinese co-working space operator founded by Mao Daqing in 2015 , which went public on Nasdaq in November 2020 through a SPAC merger with Orisun Acquisition Corp., trading under the ticker "UK" . At the time of its listing, it was described as the domestic market leader in co-working, with 185 workspaces across 47 cities as of mid-2020 and roughly double the market share of its nearest competitor . The company developed a light-asset model partnering with building owners to reduce upfront costs, and expanded into SaaS-based building asset management through its subsidiary Xiyu Technology . Gaorong Ventures invested in Ucommune's Series A round in September 2015 . The company's 2019 revenue reached 1.167 billion RMB, up 160% year-over-year, though it was still narrowing net losses at the time of listing .