Kowrk, a platform connecting users to co-working spaces, business spaces and other providers of shared offices deals with vested brand names in the co-working space, such as WeWork and Garage Society. Founders Honey and Abhishek Kathuria spoke to GrowthKungFu co-founders Wai Hoi Tsang and Pritish Sanyal about how they keep their partners happy.
This blog has been written based on the interview with Honey and Abhishek Kathuria, founder of Kowrk.com
You're a platform and you're trying to work together with some of the major brand names in your space, such as WeWork and the Hives. A lot of our listeners work with platform models where they're trying to work with established names in their space, at the same time, it's 'co-opetition' or 'frenemies' or call it what you may. There's certain vested interests there and you're trying both to dislodge them and work together with them. How do you deal with that?
Abishek: I don't think it's a 'co-opetition' model, it's a simple collaboration model. Simply because what we're doing is growing the market. On one hand, for the established spaces, we're an additional channel to bring them A) leads, B) business and C) more exposure or brand awareness. On the other hand for the new players in the market, the new co-working spaces who come up, we are actually expanding the market.
We're increasing awareness of the concept of co-working, in India for example, that awareness was pretty low a few months ago and it's increasing by the month. The place where I see the tension come in is, yes, we're also increasing the supply base in a way.
Obviously, that's the whole concept of a market space. As more customers, more providers are going to come in. It might be harming in a certain way the established players, however that's only happening because the market space is growing.
Again, we're looking at this from the basic philosophy that this isn't a zero sum game. It's a growing market and the potential is enormous. The more players who get in, the more, even from a competition perspective for us, other platforms who are aggregators or marketplaces, we welcome it, because the more there are, the less the effort for every single one participant in terms of pushing and pulling the kart to grow the market. It just increases the awareness and gets more people on board.