Venture capital Andreessen Horowitz announced on monday Plans to invest in Adam Neumann’s new residential real estate company called Flow.
Neumann is the founder and former CEO of coworking space company WeWork. retired in 2019 after company Ruined the plan to go public. The company’s 2019 IPO filing showed heavy losses. complex corporate structure, and anomalies such as the company that paid Neumann about $6 million to acquire the “our” trademark before the company name change. (Neumann later returned the money.) Concurrent media reports stated that culture of excessand Neumann eventually resigned, huge paymentWeWork finally Listed through SPAC 2021 years.
Andreessen Horowitz said in a blog post that Neumann’s efforts to redesign the office experience at WeWork are “often underestimated” and the company “reaffirms its founder building on past successes by growing from lessons learned”. I hope to do
Flow’s website doesn’t provide many details about the company, but it says it’s expected to launch in 2023. new york timesFlow is “effectively a service that landlords can partner with for their properties, similar to how hotel owners contract with branded hotel chains to operate their properties.” He said he invested about $350 million in Flow.
Andreesen Horowitz suggests that Flow could enable new ways for people to buy living space, though it’s unclear if it’s through a lease model. “Restricted access to homeownership continues to be a driver of inequality and insecurity, giving renters a sense of security, community and Giving true ownership is the power to transform our society.” Andreessen writes in a blog post.
“In his first venture since WeWork, it’s no surprise that Adam returns to the theme of transforming physical spaces and connecting people by building the communities where they spend most of their time: their homes. I think.”
“I am thrilled with the scope and enthusiasm of this project,” said Andreessen.