Ann Arbor web development software startup Jottful has taken the next step in its development by acquiring Cowork Ann Arbor for a two-year lease.
Natalie Bruno, Jottful's company’s customer and business development lead, describes the development as a "win-win-win" situation that unfolded with perfect timing.
Jottful had recently completed the Desai Accelerator program at the University of Michigan and was in need of a new office space when staff learned that Cowork Ann Arbor’s owner wouldn’t be renewing their lease. The coworking spot opened in September. Jottful staff jumped on the opportunity to make the space – located in a prime spot at Main Street and Liberty Street in downtown Ann Arbor – their new home.
"It couldn’t be working out better. We’re lucky that the landlords have kept the rental price really reasonable with the intention to attract startups like ours," Bruno says. "... We really loved the experience of sharing space with others when we were at Desai and were already interested in the coworking model."
Jottful was one of six companies, representing about 16 people, in the Desai Accelerator's latest cohort. The natural collaboration in that coworking space resulted in two new customers and a new referral partnership for Jottful.
Being able to offset rent and forge organic alliances are just two of three reasons why Jottful gravitated toward a coworking space and why Bruno recommends the model for other startups.
"It’s our best guess as to exactly what our growth will be in a year, or two years, from now. And in the startup world that’s an eternity," Bruno says. "By having a coworking space, we have the flexibility to grow at our own pace. Members will come and go over time, and Jottful can add people with that natural ebb and flow. This allows us to stay in one spot rather than having to move to every six months, which is phenomenal."
Jaishree Drepaul-Bruder is a freelance writer and editor currently based in Ann Arbor. She can be reached at email@example.com.
Photos courtesy of Jottful.