New York

Brooklyn’s Loosecubes to shut down Friday

Image Credit: http://www.flickr.com/photos/wendt-library/6072711937/

Updated at 10:39 am PT with a response from Loosecubes.

Sad news today in the New York City startup scene: Brooklyn’s Loosecubes will shut down on Friday, the company said in a blog post.

Loosecubes was built up as a “community marketplace for workspaces.” If people had open desks or space in their office, they could list it for other people in need of a place to work. Unfortunately, it appears this wasn’t a service people were clamoring for.

The announcement is somewhat surprising, especially in light of Loosecubes raising $7.8 million in June from New Enterprise Associates and Revolution Ventures. Including seed funds, the company raised about $9 million total.

Read the full blog post announcing the departure below:

The past two and a half years have been such an incredible journey. From a team of two to an incredible company of 16. From a big idea to a community of 25,000+ Loosecubers in over 60 countries around the world. And from a single coworking space to thousands of hosts, from Stockholm to San Diego, who have opened their work environments and minds to a better way of working.

We’ve been amazed to see how the Loosecubes community has grown and embraced a new attitude toward the workplace and the people they work around. We’ve watched Loosecubers launch organic food companies together, hire each other, and attend each others’ weddings. It has been incredible to see just how many partnerships, businesses, and friendships have been formed in our midst.

We’ve learned so much along the way, and are so appreciative of all who have lent their time, feedback, and expertise to making Loosecubes a success. We’re humbled to have had even a small impact on peoples’ ability to do great work.

What this means for our members and hosts:

• Friday, November 16th will be the last day that we will honor reservations booked through Loosecubes.
• Loosecubes reservations booked for any date after November 16th have been cancelled.
• After November 16th, members and hosts will no longer be able to log-in and access our site.
• Member confidentiality is of the utmost importance to us. Rest assured that we would never share or sell your information without your permission.

If you have any questions, please contact hi@loosecubes.com and we’ll do our best to get back to you as soon as possible.

Thank you to all of our members, hosts, colleagues and friends who have spent their workdays with us and supported us along the way.

Keep work loose,
Campbell, Anna and the Loosecubes Team

Anna Thomas, Loosecube’s Chief Happiness Officer, declined to give us more info about why the company shut down so soon after receiving its latest round of funding.

“The information regarding the shutdown on our website and blog is what’s currently available,” Thomas told us via email. “We aren’t speaking with the press at this time, but will certainly follow-up with you directly if we share additional information.”

Empty office photo via Wendt Commons/Flickr

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