Coworking spaces both require and foster communication and collaboration among members and providers’ staff as well as between members and providers. A variety of tools, denominated Workstream Collaboration software, seeks to fulfill this purpose. We show how a single-product choicebased conjoint (SP-CBC) approach can be used to develop an ideal Workstream Collaboration tool. 300 coworking spaces in Germany were used for data collection. The application shows the viability of the proposed approach and highlights the importance of an applications’ dissemination, modern security standards, and a plurality of collaborative instruments. We find network effects to be a tool’s critical feature. Communication functionality, surprisingly, seems to play only a subordinate role.