3rd PIC 2016 The Pub Hub, Israel: Shared economy, coworking, real estate
To transform bars, which are only open at night, into affordable and productive coworking spaces, during the day. The long term goal is to create a network of these spaces throughout Europe and the US.
About the product
The Pub Hub is a network of coworking spaces offering a productive and affordable environment for freelancers, small start-ups, entrepreneurs and all individuals looking for a place to sit and work. It provides members with free coffee, fast and safe wi-fi, discounts on the local eateries and, of course, a dynamic community of like-minded individuals. Additionally, it offers exclusive events, workshops and startup mentoring for the community.
About the market
2 distinct growing markets:
Coworking – It is a 32B$+ market year on year. It is estimated that by 2020, 40% of the US workforce will not need an office. Also, there is a general trend (e.g., Facebook, Google, WeWork) towards more dynamic workspaces, leaving cubicles behind.
Shared Economy – Billions of dollars’ worth bar real estate remains unused during the day. The Pub Hub uses this underutilized asset to position itself with other large start-ups to become the most scalable coworking company in the world.
The largest coworking company in the world today is WeWork, with a recent valuation of 16B$. They have 100 locations worldwide in line with the growth of the coworking industry.
Starbucks, the world’s largest coffee chain, hosts daily millions of freelance entrepreneurs looking for a location to work and hold meetings.
What are your venture’s key achievements to date?
- Started providing entrepreneurs a productive platform with unparalleled service right from the start
- Won the 2016 Credit Suisse & Our Crowd High-Tech Pitching Ring Award within a month of starting
What are you plans for future development?
The immediate plan is to focus and grow in the Tel Aviv market. In the coming months, once we have completed our proof of concept, we intend to grow overseas to both the American and European markets.
What is your competitive environment?
There are two categories of competitors:
- Thousands of other coworking spaces around the world. WeWork is the giant amongst the major players, Industrious is also a big player
- Coffee shops and chains e.g., Starbucks, Philz coffee and hotel lobbies where individuals usually work or meet