HONG KONG, Jan. 10, 2018 /PRNewswire/ — Sharing Economy International, Inc. (“SEII” or “the Company”) (NASDAQ: SEII) today announced that its wholly-owned subsidiary, Sharing Economy Investment Limited (“SEI”), has entered into an exclusivity agreement with Quik Ventures, regarding a potential acquisition by SEI of not less than 51% of Quik Ventures.
Quik Ventures develops and runs a sharing economy platform called Quikspaces (www.quikspaces.com), which is a platform allowing people to find flexible office space with their easy-to-use search and filter system. “We came up with the idea when we were searching for affordable office space for ourselves, as we realized how antiquated the traditional leasing model is,” said Jacky Lo, co-founder of Quik Ventures. “Quikspaces offers a win-win solution for both sides, enabling those who sublet their unused space to significantly increase their income, while also allowing those who rent such spaces to do so at below average market rates. A sharing economy for office space is created by reallocating underutilized supply and matching it with demand, ensuring that no excess office space is wasted.”
“We’re moving away from traditional long leases into an economy where people want flexible office space that can be dynamically scaled according to business needs,” says Quikspaces’ Co-founder, Eunice Wong. “While coworking spaces are great for collaboration, not all companies are suited for that type of open-layout environment which can be counterproductive. Flexible lease terms and affordable rent, on the other hand, are two key elements that all businesses look for. There is so much untapped supply out there in the market and valuable square footage is often locked up and underutilized. Quikspaces’ aim is to empower business to monetize their unused office space.”
“Quikspaces provides another workspace sharing option, a business model that our group firmly believes in,” said Parkson Yip, COO of SEII. “We are excited to add this new member to our workspace sharing solutions business, in addition to Anyworkspace in which we are acquiring a majority stake as well. Collaboration between these platforms within the group will provide us with more complete market coverage and more options in the workspace sharing market. Just in Hong Kong, Quikspaces already covers over 900 different sharing workspaces, ranging from an unutilized desk in an individual office to a fully equipped meeting room in a top-tier commercial building to an entire office suite available at flexible lease terms. Once acquired by the SEII group, workspace rental transactions will become easier, safer and more automated thanks to the implementation of our secure blockchain online payment system, along with features such as smart contract and Internet-of-Things facility access technologies which we already have in place or are currently developing.
“Our vision is to provide flexible workspaces everywhere around the world, so people can easily search, pay, gain access, work, and move on using fully automated, secure processes. Our productivity will no longer be bounded geographically, people can work anywhere and quickly complete their projects. Leveraging our blockchain-enabled technologies and the resources we are devoting to this exciting area, our group will further expand and cover other sharing economy solutions in different market segments. We continue to invite new venture ideas and entrepreneur partners to join SEII to build this new sharing economy ecosystem together. The SEII group has a strong belief that sharing economy and blockchain technologies will be key components to building a sustainable future, supporting the sustainable development goals which the United Nations has set up to reach by 2030.”
There can be no assurances that the parties may enter into any agreement to do a transaction, and even if an agreement is entered into, there can be no assurances that such transaction will be consummated.
About Sharing Economy International Inc.
Sharing Economy International Inc., through its affiliated companies, designs, manufactures and distributes a line of proprietary high and low temperature dyeing and finishing machinery to the textile industry. The Company’s latest business initiatives are focused on targeting the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. Moreover, the Company will actively pursue blockchain technology in its existing and to-be-acquired business, enabling the general public to realize the beauty of resource sharing.
About Quik Ventures
Quik Ventures develops and operates the workspace sharing platform quikspaces.com, which is an online marketplace for flexible workspace rentals. The vision is to create a sharing economy for office space by eventually making all unused offices and conference spaces available online at any time. Users can search, review and book their coworking space serviced office or meeting room in a few simple clicks.
Safe Harbor Statement
This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary and affiliated companies and certain potential transactions that they may enter into. These forward looking statements are often identified by the use of forward looking terminology such as “believes,” “expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors described in “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K for the year ended December 31, 2016 and in our Form 10-Q for the quarter ended September 30, 2017. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
Sharing Economy International Inc.
Parkson Yip, COO
Joseph Chow, Director of Investor Relations