Nextspace Coworking Acquisition by Pacific Workplaces: Why? How? And Lessons Learned.

Laurent, CloudVO and Pacific Workplaces CEO, recently shared Pacific Workplaces’ experience with the recent acquisition of NextSpace Coworking locations in a presentation to Coworking Europe in Dublin, Ireland. That presentation led to much discussion, interest, and requests for slides by coworking operators that did not have a chance to make it to the Dublin conference.

Laurent accepted to record the presentation after the event, and make it available for viewing through our blog, thinking that the slides alone fell a bit short to understand his responses to the questions he had been asked to address:

  • What drove the acquisition?
  • Why Pacific Workplaces refer to it as a merger?
  • What were the motivations behind the acquisitions?
  • What were the challenges
  • Lessons learned

What attracted much attention to this merger/acquisition was that the companies came from very different directions in the shared office industry.

NextSpace is a legendary name in the open coworking industry, with charismatic co-founders that attracted the spotlights as leaders of the coworking movement in the last decade. To this day, people come from all over the world to see how coworking is being done at NextSpace Santa Cruz and NextSpace Berkeley. In the last few weeks alone co-founder Ryan Coonerty hosted delegations from China and Japan of folks wanting to learn about how the best of coworking was being done.

Our partner (and CloudVO’s sister company) Pacific Workplaces, which at its inception came from a serviced office concept, has attracted its own spotlights from the industry, thanks to its methodical building of a highly performant portfolio of flexible office spaces, it’s success with virtual offices, and its own leaders highly respected profile in the coworking and flexible office space industry.


About CloudVO ™

CloudVO   is the umbrella brand of Cloud Officing Corp, headquartered in San Francisco, California. CloudVO’s mission is to provide comprehensive virtual office, coworking and meeting room solutions to professionals under a Workplace-as-a-Service™ model. CloudVO operates the  CloudMeetingRooms.com  and  CloudVirtualOffice.com  e-commerce sites and grants preferential access to day offices, coworking space, and professional meeting rooms at close to 600 locations worldwide for distributed workers on a subscription or a pay-per-use basis.

About Pacific Workplaces

(Pac) manages 19 shared office space locations, mostly in California, that offer a wide range of part-time and full-time office space, including virtual offices, private offices, open coworking, and mini-suites, with curated communities of professionals who help each other be successful in their respective enterprises. Members have access to furnished offices, hot desks, meeting rooms, VoIP telephony, unified messaging, phone answering services, IT support, admin support, online legal library, and to our CloudTouchdown network of day offices and meeting spaces with over 650 locations worldwide, under a subscription or a pay-per-use hosted model   Pac refers to as Workplace-as-a-Service.™ Pac partners with landlords to develop and operate coworking and other types of shared office spaces. The  Pac model responds to trends toward a more distributed workforce, increased flexibility, sustainability, the desire to join professional communities, with a growing demand from professionals associated with small and large firms alike.  All   Pac centers are operated by PBC Management LLC under the Pacific Workplaces, Enerspace Coworking, and Nextspace Coworking brands.

 

 

8 thoughts on “Nextspace Coworking Acquisition by Pacific Workplaces: Why? How? And Lessons Learned.”

  1. Great presentation Laurent. I’m sure the attendees in Dublin enjoyed your sharing the knowledge we gained from this merger. I’m proud to be part of the team that continues to work toward a smooth transition and strives to learn from NextSpace (and their members!).

  2. This is a great story on how operators can have a successful recipe of combining all types of shared workspaces into their portfolio.

  3. Brilliant. Love the concept of merging different companies that can only enhance upon what you’re already trying to do. This is great insight to those who may be looking to accomplish some of the same feats.

  4. This was a win win merger. Both Pac and NextSpace are learning and sharing ideas from each other. The locations of NextSpace are excellent as well! Two amazing and progressive cities, Berkeley and Santa Cruz.

  5. If knowledge is power then diversity is key. East Bay PAC is learning so much from NextSpace Berkeley and visa versa.

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