Flow (real estate company)

Last updated

Flow
Company type Private
Industry Real estate
Founded2022;2 years ago (2022)
Founder Adam Neumann
Headquarters
United States
Area served
Nashville, Tennessee; Atlanta, Georgia; and Miami and Fort Lauderdale in Florida.
Number of employees
c.150 (2023) [1]
Website flow.life

Flow is an American residential real-estate company. It was founded in 2022 by the former CEO of WeWork Adam Neumann and funded by the venture capital firm Andreessen Horowitz. [2] [3] [4] The company hopes to address some aspects of the United States housing shortage through technology, providing equity for renters, and a new type of social interaction. [5] The startup is initially planning to operate 3,000 apartment units, purchased by Neumann, in Nashville, Tennessee; Atlanta, Georgia; and Miami and Fort Lauderdale in Florida. [6]

The company was scheduled to launch in 2023, [7] while the business plan has not yet been made public as of 2024. [8] According to The New York Times, Flow plans to offer concierge services to renters and management services for Neumann's properties and third-party landlords. [6] [3]

Funding

In mid-August 2022 Flow received a $350 million initial investment from Andreessen Horowitz, valuing the company at over $1 billion and making it a unicorn months before commencing operations. [7] According to The Wall Street Journal , the investment granted Andreessen Horowitz a stake in Flow's real estate portfolio. [9]

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References

  1. Sraders, Anne (July 11, 2023). "Adam Neumann says his new company Flow, which raised $350 million from a16z, has only two choices: compete with WeWork or partner with it". Fortune .
  2. Vergolina, Victoria (October 5, 2022). "'Flow' is the New 'We' for Adam Neumann". Bloomberg News . Retrieved October 14, 2022.
  3. 1 2 Martin, Iain; Konrad, Alex; Farivar, Cyrus (August 23, 2022). "WeWork Cofounder Adam Neumann's New Real Estate Startup Sounds An Awful Lot Like One He Invested In Two Years Ago". Forbes .
  4. Jin, Berber (August 15, 2022). "Andreessen Horowitz Backs WeWork Co-Founder Adam Neumann's Real-Estate Startup Flow" . The Wall Street Journal .
  5. Molla, Rani (August 17, 2022). "Why does the WeWork guy get to fail up?". Vox Media . Retrieved August 19, 2022.
  6. 1 2 Ross Sorkin, Andrew; Giang, Vivian; Gandel, Stephen; Hirsch, Lauren; Livni, Ephrat (August 15, 2022). "Adam Neumann Gets a New Backer". The New York Times .
  7. 1 2 Ross Sorkin, Andrew (August 15, 2022). "Adam Neumann's New Company Gets a Big Check From Andreessen Horowitz". The New York Times . Retrieved August 19, 2022.
  8. "Archived copy". Archived from the original on November 14, 2023. Retrieved December 14, 2023.{{cite web}}: CS1 maint: archived copy as title (link) CS1 maint: bot: original URL status unknown (link)
  9. Putzier, Konrad (September 13, 2022). "Adam Neumann Handing Over Part of Property Holdings to Fund Startup" . The Wall Street Journal . Archived from the original on September 13, 2022.