Uban

About Uban

Uban, registered as Beijing Uban Information Technology Co., Ltd., operates as an online-to-offline (O2O) platform specializing in commercial real estate, primarily focusing on office leasing in China. The company was established in May 2015 by founder Lu Yang. Yang's background includes a Master's degree in Urban Planning from Harvard University's Graduate School of Design and an eight-year tenure as a director at Carlyle Investment Group's Asian real estate fund, where he managed real estate investment and administration in Greater China. Before that, he was with Hines, a major US commercial real estate developer. This extensive experience in real estate and investment directly informed the creation of Uban, which was conceived to address the complexities and information asymmetry in Beijing's office rental market.

The company's business model is centered on digitizing and standardizing offline office rental information. Uban verifies and curates property listings, presenting them transparently on its online platform. This service aims to streamline the office search process for corporate clients by providing comprehensive, reliable data. Clients can browse verified listings online, after which Uban's dedicated office consultants assist with offline viewings and finalizing transactions. The platform functions similarly to a 'Ctrip for offices,' aiming to do for commercial real estate what other platforms have done for travel and leisure.

Uban generates revenue through several streams: charging commissions on successful leases, offering rent installment loans, and providing ancillary business setup services. In October 2015, the company formed a corporate services alliance to offer a suite of services beyond office leasing, including decoration, furniture procurement, business registration, and financial services. This positions Uban as a comprehensive service provider for businesses establishing or relocating their operations. The company has demonstrated significant early-stage growth, securing angel funding of 12 million yuan from Kunlun Wanwei in May 2015, followed by a $10 million Series A round in September 2015 from Source Code Capital and Shunwei Capital. A further $30 million was raised in a Series B round in November 2016, indicating investor confidence in its model to consolidate a fragmented market.