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Co-working space co GoFloaters to expand to 10 cities by year-end
The Hindu Business Line  |  May 1, 2019

V RISHI KUMAR HYDERABAD

GoFloaters, flexi co-working spaces provider, is in expansion mode and plans to extend its presence to 10 cities by the year-end from four cities now.

 

The start-up based in Chennai, with operations in Chennai, Bengaluru and Coimbatore, has formally launched its operations with 30 centres in Hyderabad. Typically a centre has about 10 to 50-60 seats on an average.

 

Expansion plans

 

“From about 1,200 seats across these four cities, we plan to take this up to 5,000 seats across 10 cities, thereby covering metros and some tier-II cities by the yearend,” Shyam Sundar Nagarajan, Founder and CEO of GoFloaters, and Srivatsan Padmanabhan, Co-founder and COO, said. Interacting with BusinessLine at one of their facilities in Hyderabad, the founders said the company founded in December 2017 has grown to 1,200 seats, bringing about a difference in the way solopreneurs, freelancers, various other professionals could work in a flexible work environment.

 

Affordability

 

“We have made our facilities affordable with people getting a workspace for as low as Rs. 25 per hour. Significantly, our facilities have also enabled professionals across various business areas including doctors, consultants, freelancers to work in a flexible work environment,” Nagarajan said.

 

“The new age workforce is different in the way they work. They are keen to work where there is flexibility in terms of the number of hours they work and also place from where they operate. They do not want to get bogged down or tied up to one workplace. It is this idea which has helped GoFloaters grow from scratch in 2017 to 1,200 seats. We are now looking at taking this up to 5,000 seats by the year-end, across 10 cities,” Padmanabhan said.

 

Women hub

 

“Apart from providing these spaces, we are also setting up exclusive work spaces for women &ndash the women hub,” they said.

 

Referring to funding, Nagarajan said, “All through, it has been funded with our own resources. However, for the next phase of growth into new cities, we are engaged in talks with some potential investors.”