Flow
TypePrivate
IndustryReal estate
Founded2022 (2022)
FounderAdam Neumann
Headquarters
United States
Area served
Nashville, Tennessee; Atlanta, Georgia; and Miami and Fort Lauderdale in Florida.
Number of employees
c. 150 (2023)[1]
Websiteflow.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]

Criticism

The decision to invest by Andreessen Horowitz was criticized due to Neumann's previous business issues during his time at WeWork.[10][11] The New York Times article on the return of the Silicon Valley 'Bro' culture outlined how the Flow deal caused concern among people of color and women who saw Neumann and Flow getting a second chance even though those groups never received the first chance for venture capital.[12]

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 2023-11-14 at the Wayback Machine
  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.
  10. ↑ Ongweso Jr, Edward (August 15, 2022). "NIMBY Marc Andreessen Gives WeWork's Adam Neumann $350 Million to, Uhh, Solve the Housing Crisis". Vice Media. Retrieved August 19, 2022.
  11. ↑ Sherman, Natalie (August 17, 2022). "Backing for Adam Neumann's new firm prompts outrage". BBC.
  12. ↑ Griffith, Erin (September 24, 2022). "Silicon Valley Slides Back Into 'Bro' Culture". The New York Times. Retrieved October 14, 2022.
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