Flow (real estate company) explained
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] 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.[4] 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.[5]
The company was scheduled to launch in 2023, while the business plan has not yet been made public as of 2024.[6] 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.[7]
In May 2024, Flow acquired Whalebone, a bimonthly lifestyle magazine based in Montauk, New York. The magazine was founded in 2010 and following the sale renamed to Flow Trip.[8]
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.[9] According to The Wall Street Journal, the investment granted Andreessen Horowitz a stake in Flow's real estate portfolio.[10]
Notes and References
- Web site: 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.
- News: Vergolina . Victoria . 'Flow' is the New 'We' for Adam Neumann . . October 5, 2022 . 2022-10-14 .
- News: Jin . Berber . August 15, 2022 . Andreessen Horowitz Backs WeWork Co-Founder Adam Neumann’s Real-Estate Startup Flow . . subscription.
- News: Molla . Rani . Why does the WeWork guy get to fail up? . . August 17, 2022 . 2022-08-19 .
- News: Andrew Ross Sorkin . Andrew . Ross Sorkin . Vivian . Giang . Stephen . Gandel . Lauren . Hirsch . Ephrat . Livni . Adam Neumann Gets a New Backer . . August 15, 2022.
- Web site: Archived copy . December 14, 2023 . November 14, 2023 . https://web.archive.org/web/20231114145545/https://www.flow.life/ . bot: unknown .
- News: Martin . Iain . Konrad . Alex . Farivar . Cyrus . WeWork Cofounder Adam Neumann's New Real Estate Startup Sounds An Awful Lot Like One He Invested In Two Years Ago . . August 23, 2022.
- Web site: Bergman . Ben . May 15, 2024 . Adam Neumann is now in the publishing business, with his residential real estate company buying a quirky Montauk surfing magazine . May 16, 2024 . Business Insider . en-US . subscription . https://archive.today/20240516120946/https://www.businessinsider.com/adam-neumanns-apartment-bought-a-montauk-surfing-magazine-whalebone-2024-5 . May 16, 2024 . live.
- News: Andrew Ross Sorkin . Ross Sorkin . Andrew . Adam Neumann's New Company Gets a Big Check From Andreessen Horowitz . . August 15, 2022 . 2022-08-19 .
- Web site: Putzier . Konrad . Adam Neumann Handing Over Part of Property Holdings to Fund Startup . September 13, 2022 . . subscription . https://archive.today/20220913122207/https://www.wsj.com/amp/articles/adam-neumann-handing-over-part-of-property-holdings-to-fund-startup-11663015364 . 2022-09-13 . live.
