London flexible office marketplace raised over $30M to replace WeWork and shut down when the remote work shift permanently collapsed SME office demand.
Evaluating only Hubble’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. Documented cause: Market collapse.
Key Events Timeline
FOUNDING
Hubble founded
LAYOFF
Market downturn forces cuts
SHUTDOWN
Silent Shutdown: Hubble ceases operations
Full Analysis
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Documented cause
Hubble built a marketplace for flexible office spaces and desk rentals, connecting SMEs with short-term office solutions across London. The company raised $30M+ from investors including Talis Capital. COVID-19 initially appeared to be an opportunity as companies sought flexible alternatives to long leases. However, post-pandemic SME office demand did not recover: small companies discovered remote work was viable and cheaper, reducing aggregate demand for SME office space permanently. Hubble closed operations in 2023, unable to achieve sustainable revenue in a structurally smaller market.
Lesson
“Flexible office marketplaces for SMEs were casualty of the same structural shift that collapsed WeWork: post-pandemic, small companies discovered they could operate without a dedicated office entirely. The SME flexible office model required a level of demand density in London that remote work permanently eroded. Adapting to the new normal meant accepting a market that was 40 percent smaller than 2019.”