CoHive
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
CoHive, formerly known as EV Hive, was an Indonesian coworking space operator founded in 2015 with backing from East Ventures. It provided flexible workspace, business services and networking for entrepreneurs and startups, growing into the largest coworking operator in Indonesia with about 30 locations at its 2020 peak.
02 / CoHive FAILURE REASONS
Failure factors supported by the current evidence
Kompas (7 Feb 2023), citing CoHive’s website farewell via DealStreetAsia, says the prolonged pandemic, the office-supply situation, and a challenging fundraising environment left the coworking operator unable to continue; the company wrote that the business had stopped and landlords had taken over locations including last stand CoHive 101.
CoHive’s farewell attributed the end to the prolonged pandemic and office-supply situation.
The same message cited a challenging fundraising environment.
The company wrote that the business had stopped and landlords had taken over locations, especially CoHive 101.
03 / EVENT HISTORY
Events in the structured record
- Bankruptcy
Kompas reports the Central Jakarta District Court declared CoHive’s legal entity PT Evi Asia Tenggara bankrupt on 18 Jan 2023 (pailit).
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Long-term leases against short-term membership revenue create a brutal cost mismatch.
- 02
Rapid expansion ahead of proven demand burned cash before occupancy caught up.
- 03
External shocks like the pandemic can push a fixed-cost model into insolvency without fresh financing.