Sad to hear this. The Loosecubes team was always amazingly friendly and helpful. They built a beautiful service, it's a shame to see it shuttered.
Loosecubes is shutting down
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Re: Loosecubes is shutting down
#12Sorry to hear this, but in my experience, coworking spaces are able to manage their own marketing (web) and payment (square) systems, rendering the LC discovery/reservation/transaction model a tenuous one. On top of that, I think there's just less demand for short-term, drop-in work space than LC seems to be predicated upon. I'm sure LC learned a ton of valuable lessons and I hope they'll share.
I always imagined that LC was looking to cater to businesses that happen to have a few spare desks or offices, but don't want to open a side business having to manage a coworking space; much like AirBNB allows me to rent out my couch without having to put up a neon SuperMotel9 sign in my window.
I think this is true. However, the LC model was sharing - for free. So, I'm in the LC network, I can use any other space in the LC network. It's predicated on those folks being on the move quite a bit. Not sure how they could have monetized that.
Re: Loosecubes is shutting down
#13So sad to hear this. Everyone should take a spin through their product and marketing screens before they close up shop, the design is a real work of art. I had some time to sit down with Campbell a few times when she was just launching the company - so much positive energy and a real dedication to community building Sadly I think it may have just been a little ahead of its time...
Agreed. I don't think the market for non-coffee shop workspaces is still that sizable, particularly in non-city environments. It's definitely growing though and I think in five to ten years, this market will be able to sustain a more viable business model once the shift in work patterns from full-time cubicle farm dweller to freelancer takes place in greater numbers.
I personally used Loosecubes to find a great space in midtown NYC and built some solid friendships with a few of the folks there as a result. They'll definitely be missed and I wish them well.
Re: Loosecubes is shutting down
#14So sad to hear this. Everyone should take a spin through their product and marketing screens before they close up shop, the design is a real work of art. I had some time to sit down with Campbell a few times when she was just launching the company - so much positive energy and a real dedication to community building Sadly I think it may have just been a little ahead of its time...
Campbell is a rock star. Really disappointed they will be shutting down. Their product and culture were so uplifting! It's a great idea, but the market didn't pick up in the way they expected. I agree the market was a little ahead, but there were a few corners they could have cut. AirBNB did it well and it's possible they could have galvanized support for the co-working movement in the same way that AirBNB made it happen for travelers.
Re: Loosecubes is shutting down
#15If they got $7.8M in June then they must have more money in the bank, so does this mean they are going to pivot?
Re: Loosecubes is shutting down
#16Disappointing! I just signed up a few weeks ago and have happily used Loosecubes several times to find some great coworking spaces. They introduced me to the good folks at PARISOMA in SF and Buro in Miami. So sorry to hear about this. Of course, I didn't pay them anything for those intros (and I would have, btw) but I imagine that in general has something to do with their decision to close up shop. I'd be interested…
Have a look at http://www.coworfing.com, saw some cool public places with wifi around me.
Re: Loosecubes is shutting down
#17If they got $7.8M in June then they must have more money in the bank, so does this mean they are going to pivot?
FWIW, I heard the funding didn't come through.
Re: Loosecubes is shutting down
#18How did this happen? They had $7 million in funding...
Did the rounds not close?
Re: Loosecubes is shutting down
#19What a shame... I really loved their service. Also, quite surprising given they raised a pretty big Series A just a few months ago. http://techcrunch.com/2012/06/05/loosecubes-series-a/
From what I understand, this is an example of why tranched VC investments are bad. (See: http://cdixon.org/2009/08/15/the-problem-with-tranched-vc-in...)
It's not an investment until the money is in the bank.
Re: Loosecubes is shutting down
#20Earlier quoted context omitted.
I always imagined that LC was looking to cater to businesses that happen to have a few spare desks or offices, but don't want to open a side business having to manage a coworking space; much like AirBNB allows me to rent out my couch without having to put up a neon SuperMotel9 sign in my window.
I think this is true. However, the LC model was sharing - for free. So, I'm in the LC network, I can use any other space in the LC network. It's predicated on those folks being on the move quite a bit. Not sure how they could have monetized that.
I thought their primary model was charging businesses to handle the money handling aspect of renting desks out. Being able to cowork somewhere for free just because I'm also offering space seems like something that wouldn't be used very often. (Or am I misunderstanding?)