Loosecubes closes it’s doors permanently

Loosecubes logo

Sad news for those in the coworking space as Loosecubes sent and email and made a blog post it was closing the doors on the service November 16th, 2012. For those unfamiliar, Loosecubes allowed you to book office and meeting space across the globe at companies that had extra offices they were not using. THis allowed the end user to have an office for a day or more and the business to recoup some costs on unused floor space.

Dear Loosecubes Community,

It’s with a heavy heart that we announce that Loosecubes will be closing its doors and shutting down this Friday, November 16th.

We want to thank you, our amazing community, for spending your workdays with us, for sharing your valuable time and feedback with us, and for allowing us to be part of your lives. Thank you to our wonderful hosts, who have so hospitably welcomed our community into your offices over 10,000 times in just the last six months and accompanied us on this journey.

I begin to wonder if they were not  making funds from the amount of registrations or were they not collecting enough from the system to maintain operations? As a service it worked well from the one or two times I worked with the system.

Sometimes you need a productive place to work that isn’t your company’s office, your sofa, or a coffee shop. Loosecubes connects you to your very own network of friendly offices based on your vibe, network, & skills.  Search for an awesome place to work for the day. Use your phone or your browser to book your ‘cube. We’ll connect you with the host and let him/her know that you’re on your way.

The amount of locations was staggering for anyone looking for somewhere in most major cities. What I found interesting was you had the ability to look for locations that may also have skills you need for a project that you could hire or trade services. It seems Loosecubes never went after this portion of the market to also become a bartering and contract work site since they required you connected Facebook or LinkedIn.

Another site down in the long list. I liked this one.  If you have reservations after November 16th they have been cancelled it seems.  Good luck to Campbell and the Loosecubes team

  • http://www.touchdownspace.com/ Caleb Parker

    Hi Chris,

    I’ve been expecting this to happen, although I didn’t expect it to happen this fast. The LooseCubes business model wasn’t sustainable, and I suspect after giving up control in their A-round, investors pulled the plug when saw FREE was part of the business model.

    They had the following on their FAQ page:

    How do yo make money?
    We’re lucky to have some great investors who believe in what we’re doing.
    Currently, we’re focused on building a vibrant community and an
    exceptional experience for our users. We’re trying to change the way
    people think about work and office space, and will eventually implement a
    monetization strategy that achieves those goals.

    Certainly lofty goals, and they did a great job building a loyal community.

    But Loosecubes wanted to play under bridges and be happy at work, which is
    fine. But in our experience most people want to grow their careers, build their
    businesses so they can enjoy more time with their families. They take
    their work and jobs very serious and want to focus on being successful.

    We started building TouchdownSpace because when customers came to us looking for on-demand office space solutions, we saw pain points not being
    addressed by LooseCubes and others. Our approach from the beginning has
    been on-demand professional workspace.

    The mobile workers we’ve supported want to quickly find and access a
    private professional space where they can focus without distractions,
    they want something close to home or wherever they are (so they don’t
    waste time commuting) and they want consistency. These folks are smart
    people who recognize the opportunity to save tons of overhead by not
    paying for a space they’re not in every day. But they aren’t looking for
    something cheap or free. While the LooseCubes peer to peer model
    offered savings, we felt the consistent professional atmosphere was
    lacking. I’m not sure how anyone could ever get work done laying in a
    hammock.

    Fremium is not a sustainable business model.

    I do have to give Campbell and her team credit though, watching them
    grow such a loyal community of users has been humbling. I wish them
    nothing but the best.

  • http://TheSocialNetworker.com IdoNotes

    Great feedback from you for a great plan they had. I can see without the revenue model in place it would be hard to covert free users laer to a paid model like Regal does for meeting spaces now