Moneycontrol PRO
Open App
Live: Live: Dollar to pip gold as safe haven investment?
you are here: HomeNewsTrends

All you need to know about Flow, a startup valued at $1 billion even before its launch

Flow is a real estate startup that aims to revolutionise the residential housing industry.

August 16, 2022 / 11:01 AM IST
Adam Neumann at a conference in New York in 2015. 'WeCrashed: The Rise and Fall of WeWork' is inspired by the true story of Adam Neumann and based on the 'WeCrashed' podcast. (Photo: TechCrunch via Wikimedia Commons)

Adam Neumann at a conference in New York in 2015. 'WeCrashed: The Rise and Fall of WeWork' is inspired by the true story of Adam Neumann and based on the 'WeCrashed' podcast. (Photo: TechCrunch via Wikimedia Commons)


News of Adam Neumann’s new residential real estate company, called Flow, has created ripples in the Silicon Valley. Nearly three years after Neumann stepped down as the CEO of WeWork following allegations of mismanagement, toxic work culture and the company’s failed IPO, it was reported that the 43-year-old is in charge of Flow, a real estate startup valued at a billion dollars. According to CNN, prominent venture capital firm Andreessen Horowitz announced its plans to invest in Flow on Monday.

Here is what we know so far about Flow:

  • Flow is a real estate startup that aims to revolutionise the residential housing industry.

  • Marc Andreessen, cofounder of Andreessen Horowitz, said in a blog post Monday that the startup would “create a system where renters receive the benefits of owners.”

  • Andreessen said that Flow wants to address modern housing problems – including the issue of people “moving away from traditional economic hub cities to different cities, towns, or rural areas,” thanks to the work from home culture brought upon by the pandemic.

  • According to the New York Times, Flow is “effectively a service that landlords can team up with for their properties, somewhat similar to the way an owner of a hotel might contract with a branded hotel chain to operate the property.”

  • The Times report further stated that Neumann has purchased more than 3,000 apartment units in Atlanta, Fort Lauderdale, Miami, and Nashville for Flow. It seems as if the startup will offer community living to remote workers.

  • Andreessen Horowitz has invested $350 million in the startup. The investment valued the startup at more than $1 billion even before its launch.

  • “Adam is a visionary leader who revolutionized the second largest asset class in the world — commercial real estate — by bringing community and brand to an industry in which neither existed before,” Marc Andreessen said in the blog post. “It’s often under appreciated that only one person has fundamentally redesigned the office experience and led a paradigm-changing global company in the process: Adam Neumann.”

  • Flow already has a website that currently offers no explanation except that it will launch in 2023.
Moneycontrol News
first published: Aug 16, 2022 10:26 am
Sections
ISO 27001 - BSI Assurance Mark