Company Culture
Acquisitions / Coworking

Pioneering coworking space Affinity Lab changes hands

The U Street coworking space, possibly the oldest in the country, was acquired by a group of investors led by coworking consultant Mike LaRosa.

It was love at first sight, but he didn’t know it yet.
Mike LaRosa is the new CEO and co-owner of Affinity Lab, possibly the first coworking space in the country.
Wednesday, the space announced its acquisition by an investor group led by LaRosa — a coworking consultant and organizer for the Global Coworking Unconference Conference.
“Affinity Lab was actually the first coworking space that I ever visited back in 2009,” he said. At the time, he was charting the best places to work in D.C. for the Washington Business Journal.
Besides being created in 2001 — that’s near-antiquity in the timeline of the coworking movement — what also sets the U Street space apart from its growing field of competitors is that “people that are members of this space, it’s like a family,” said LaRosa.

Affinity Labs

Affinity Labs. (Screenshot via Vimeo)

He began planning for the acquisition in May when he returned to D.C. after wandering the world, and sought a place where he could settle to work in.
“I hate working at Starbucks, I hate working at home,” he said.
As the new CEO, he hopes to update the company’s business strategy by developing a new pricing model, upgrading the facilities and changing the membership benefits.
LaRosa has also “considered the possibility” of expanding, once these changes kick into gear.

Shareholder Edward Herold will stay on as CFO and co-owner of Affinity Lab.
Companies: Affinity Lab

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