Jum Balea · · 2 min read‘Airbnb for workspaces’ acquires Malaysia’s 8spaces
Photo credit: Sean Pavone / 123RF.
Manila-based Flyspaces, an Airbnb for workspaces, today announced it acquired its Malaysian counterpart 8spaces for an undisclosed amount. The deal is funded through cash and equity.
The move will accelerate Flyspaces’ growth in Kuala Lumpur and the rest of Southeast Asia, the startup says in a statement.
The company has an inventory of over 800 workspaces across five cities: Manila and Cebu in the Philippines, Singapore, and Hong Kong – apart from KL.
“We are adding a very strong member to our executive team in Lais de Oliveira,” Flyspaces founder and CEO Mario Berta says of the 8spaces founder.
Mario Berta and 8spaces’ Lais de Oliveira.
We’ve contacted Mario for the specifics of the deal and the company’s progress so far, and we’ll update this article when he responds.
Flyspaces is a marketplace that offers offices, co-working facilities, business centers, and event spaces for rent to businesses of all sizes. Just like Airbnb, it takes a commission out of each successful booking. Its client roster includes huge brands like Nestle, Heineken, Unilever, Google, and Uber.
The company plans to launch in Jakarta in January.
Editing by Nivedita Bhattacharjee
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
