Local co-working brand 91springboard goes national
Forbes reports that 91springboard has stood out from the competitors in the co-working market. Its founders cite its focus on community…
Forbes reports that 91springboard has stood out from the competitors in the co-working market. Its founders cite its focus on community, and not on facility.
It started in Delhi
Four co-founders Varun, Pranay, Anand and Deepak started it in 2013 from Mohan Cooperative, Delhi.
Now it has 12,500 seats in 20 hubs in 9 cities.
It has raised more than INR 200 crores till date. 10 hubs are in Delhi-NCR.
It has grown from a revenue of INR INR 1.3 crore to INR 19.8 crore in 2016 to INR 45 crore in FY18.
They left Delhi in 2017
They shifted their headquarters to Goa in 2017.
Founders say that Goa provides quality of life, talent, and accessible by major centres such as Delhi, Mumbai, Bengaluru.
They are building more centres in Chennai, Ahmedabad, Kolkata and Chandigarh over the next 12 months.
Bigger players are threatening them
There are 350 co-working operators with 1,000 centres in urban India. Awfisfrom Delhi-NCR, has more funding (INR 350 crores) and hubs ( 55 centres with 25000 seats).
International players like WeWork have billions of dollars in funding. We Work has opened 23 hubs in just three cities. It already has more than 12,000 seats.
Co-working space will double by 2020. So, there is scope for everyone to grow