On December 4th, the well-known co-working space brand People Squared (hereinafter referred to as P2) and WALNUT jointly announced their merger. The two parties have signed relevant memorandums and this will deepen the integration of products, technology and operations in the future. This will also jointly promote the co-working industry and community development in Chengdu and Southwest China.
After the merger, Founders of WALNUT Zhang Yida and Dudong will become partners of P2. After the merger, the both sides have more than 40 spaces in Shanghai, Beijing, Shenzhen, Hangzhou, Chengdu and other cities, housing over 3,000 companies and 50,000 members.
Being the first co-working space in China, P2 deeply cultivates the content and community, providing a flexible and professional office environment for the teams they house so that companies of any size can equally enjoy the office environment and entrepreneurial atmosphere similar to Silicon Valley. P2 is not only a partner of well-known companies such as Google (GFS), Alibaba, Taihe Music, Vanke, but also the space of choice for innovative startups.
WALNUT was founded in Chengdu in 2015 and is aimed at freelancers, small and medium-sized enterprises, entrepreneurs, cultural groups and creative groups. Driven by technology, it has three core segments including “space management”, “content management” and “system development” to create high-quality，smart and interesting products for customers, as well as for the entire market. WALNUT has developed brand recognition and gathered users by deep cultivation and meticulous grounding in Southwest China.
After the merger, both sides will rely on their respective advantages to establish a foothold in Southwest China. As one of the earliest companies involved in China’s co-working scene, P2 has deep industry knowledge and rich experience in the co-working field. Meanwhile, WALNUT has strong local resources and technological advantages in Southwest China. This integration has allowed the superposition of the two brands, which is of great significance for the development of collaborative industries and the reduction of market risks. In the next two years, P2 will have more than 20 spaces together with WALNUT in the Southwestern regions of China like Chengdu, Chongqing and Xi’an.