Loosecubes

About Loosecubes

Founded in June 2010 by Campbell McKellar and Anna Thomas, Loosecubes emerged as a peer-to-peer marketplace for office sharing, often described as an "Airbnb for workspace". The concept originated from McKellar's personal experience while working remotely, where she identified a need for productive, temporary workspaces beyond the typical home office or coffee shop. Based in Brooklyn, New York, the platform connected a mobile workforce of freelancers, entrepreneurs, and travelers with companies that had underutilized desks or 'loose cubes'. Hosts could list their extra space for free, specifying the type of professionals they wished to attract, while individuals could find and book a desk on a daily basis, fostering collaboration and networking.

Loosecubes gained significant traction, securing initial seed funding from investors like Accel and Battery Ventures, followed by a substantial Series A round of $7.8 million in 2012, with backers including New Enterprise Associates and Revolution Ventures. At its peak, the platform boasted 1,400 locations and was growing its membership by 40% per month. However, the company abruptly ceased operations in November 2012. The shutdown was attributed to a disagreement with the investor board over the company's future direction and business model, which led to the withdrawal of further funding. Despite its short lifespan, Loosecubes was a notable pioneer in the coworking movement, highlighting the growing demand for flexible work environments.

While Loosecubes is now defunct, its mission is echoed by companies like DropDesk. Founded in 2017 by Graham Beck and headquartered in Long Beach, New York, DropDesk provides a platform to unlock the potential of underutilized spaces. It operates as an online marketplace for booking a wide array of venues, including coworking spaces, meeting rooms, and event locations. The business serves two main client types: individuals or teams seeking flexible spaces and hosts who want to monetize their underutilized property. DropDesk's business model includes custom revenue-share options with hosts and subscription plans for users. The platform also offers a white-label software solution, allowing businesses to launch their own shared-economy marketplaces, complete with tools for reservations, billing, member management, and analytics.