Spaces (company)

Spaces (company)
Name	Spaces
Type	Private
Industry	Coworking, Real Estate, Hospitality
Founded	2006
Founders	Adriaan Mol
Headquarters	Amsterdam, Netherlands
Key people	Ram Varanasi
Products	Flexible workspace, Meeting rooms, Virtual offices, Event spaces
Num employees	1,200 (2020)
Parent	IWG plc

Spaces (company) Spaces is a multinational provider of flexible workspaces, meeting rooms, and related services founded in 2006 in Amsterdam. The company operates shared office environments tailored to freelancers, startups, and corporate clients, competing in a market alongside firms like WeWork, Regus, and IWG plc. Spaces has expanded through organic growth and acquisitions, engaging with real estate markets across Europe, North America, Asia, and Latin America.

History

Spaces was established in 2006 by Dutch entrepreneur Adriaan Mol, who previously founded WebMapper and Spring Source. Early expansion included locations in Amsterdam and Rotterdam, positioning the company within European urban centers and innovation hubs such as Silicon Valley-adjacent markets. In 2015–2016 Spaces accelerated growth amid rising demand for flexible work solutions, contemporaneous with expansion by WeWork and consolidation in the sector by entities like Regus.

In 2018 Spaces was acquired by IWG plc (formerly Regus) in a deal reflecting industry consolidation notable alongside mergers involving Knotel and capital inflows from firms like SoftBank. The acquisition integrated Spaces' brand and portfolio into IWG's global platform, paralleling other transactions in corporate real estate including moves by Blackstone and Brookfield Asset Management. Post-acquisition strategy aligned with trends observed in reports by CBRE, JLL, and Cushman & Wakefield on the growth of flexible workspace demand.

Services and Products

Spaces offers a range of services similar to those provided by contemporaries such as WeWork and legacy providers like Regus: private offices, dedicated desks, hot desks, and meeting rooms equipped for hybrid work. Ancillary offerings include virtual office addresses, reception services, event venues, and community programming that mirrors initiatives by Techstars accelerators and coworking networks like Impact Hub. Spaces' physical locations are often furnished with ergonomic furniture from suppliers associated with commercial interior projects in cities such as London, New York City, and Singapore.

Technology features in Spaces' product suite include mobile booking apps, integrations with calendaring platforms like Google Calendar and Microsoft Exchange, and member management systems resembling those used by marketplaces like LiquidSpace and Peerspace. Spaces' event spaces have hosted industry gatherings similar to conferences organized by SXSW, Web Summit, and Collision.

Business Model and Pricing

Spaces operates on a membership model with tiered pricing comparable to competitors such as Regus, WeWork, and IWG plc's other brands. Revenue streams include monthly memberships, day passes, meeting-room rentals, and ancillary services like mail handling and event production. Commercial leasing strategies employ long-term leaseholds and revenue-share arrangements with landlords similar to practices used by Knotel and serviced office operators in partnership with institutional owners like Prologis and Hines.

Pricing varies by market, with benchmarks often cited in analyses by Knight Frank, Savills, and Jones Lang LaSalle for metropolitan areas including Amsterdam, London, New York City, and Paris. Corporate enterprise sales target tenants resembling clients of Accenture, Deloitte, and IBM that seek flexible workplace footprints.

Corporate Structure and Ownership

Following its 2018 acquisition, Spaces became a brand within the portfolio of IWG plc, a public company listed on the London Stock Exchange. Corporate governance aligns with IWG's board structures similar to those at multinational firms like Unilever and Vodafone Group. Executive leadership of Spaces has collaborated with IWG executives and regional directors overseeing operations across EMEA, the Americas, and APAC, reflecting organizational frameworks used by global service providers such as Hilton Worldwide and Marriott International.

Investment and ownership history intersects with private equity and corporate buyers notable in commercial real estate transactions, echoing activity by investors like Blackstone Group, TPG Capital, and strategic acquirers such as WeWork during the sector's consolidation phase.

Locations and Global Presence

Spaces maintains locations in major cities across Europe, North America, Asia, Latin America, and Oceania, with hubs in Amsterdam, London, New York City, Berlin, Singapore, São Paulo, and Sydney. Site selection often targets central business districts and creative quarters akin to neighborhoods such as Shoreditch, SoHo, and Midtown Manhattan. Spaces’ footprint has been tracked in industry maps and datasets compiled by firms like Coworking Census and consultancies including McKinsey & Company and Bain & Company analyzing urban office trends.

The brand competes for tenancy in mixed-use developments and Grade-A office buildings alongside tenants such as Google, Amazon, and Facebook, leveraging proximity to transit nodes like Amsterdam Centraal and Grand Central Terminal.

Partnerships and Collaborations

Spaces has engaged in partnerships with corporate clients, real estate owners, technology vendors, and event organizers comparable to collaborations seen between WeWork and startups portfolios or between Regus and multinational corporations. Strategic alliances include integration with software providers like Salesforce and conferencing solutions from companies such as Zoom Video Communications and Microsoft Teams for hybrid meetings.

Collaborative initiatives have linked Spaces locations with local startup ecosystems, incubators, and accelerators including Station F, Plug and Play Tech Center, and regional innovation clusters supported by municipal authorities like City of Amsterdam and New York City Economic Development Corporation.

Reception and Controversies

Reception of Spaces has varied: industry analysts from CBRE and JLL have cited Spaces positively in reports on flexible workspace growth, while sector commentary from outlets like The Financial Times, The Wall Street Journal, and Bloomberg has scrutinized profitability and sustainability of coworking models, referencing peers such as WeWork and Katerra. Criticism has addressed lease commitments, workplace safety standards during public-health events like the COVID-19 pandemic, and competitive dynamics involving corporate landlords including Blackstone and Brookfield Asset Management.

Regulatory and legal scrutiny in certain jurisdictions mirrored disputes seen in cases involving WeWork and municipal regulations affecting short-term commercial leases. Labor and contractor classification debates that have affected platform companies similar to Uber and Deliveroo have occasionally surfaced in discussions about staffing and service provision at coworking providers.

Category:Coworking companies