Flow (real estate company)
| Company type | Private |
|---|---|
| Industry | Real estate |
| Founded | 2022 |
| Founder | Adam Neumann |
| Headquarters | , United States |
Area served | Nashville, Tennessee; Atlanta, Georgia; and Miami and Fort Lauderdale in Florida; Riyadh, Saudi Arabia |
Number of employees | c. 150 (2023)[1] |
| Website | flow |
Flow is an American residential real-estate company based in Miami, Florida.[2] It was founded in 2022 by the former CEO of WeWork Adam Neumann and funded by the venture capital firm Andreessen Horowitz.[3][4][5] 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.[6] 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.[7]
The company was scheduled to launch in 2023,[8] while the business plan has not yet been made public as of 2024.[9] 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][4]
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.[10]
Flow launched internationally in 2024, expanding into Saudi Arabia and partnering with local investors to develop and own three apartment buildings in Riyadh.[11]
Funding
[edit]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.[8] According to The Wall Street Journal, the investment granted Andreessen Horowitz a stake in Flow's real estate portfolio.[12]
References
[edit]- ^ 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.
- ^ Wong, Natalie (September 19, 2024). "Adam Neumann's Flow Pushes Into Saudi Arabia in First Global Move". Bloomberg News. Archived from the original on September 19, 2024.
- ^ Vergolina, Victoria (October 5, 2022). "'Flow' is the New 'We' for Adam Neumann". Bloomberg News. Retrieved October 14, 2022.
- ^ a b 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.
- ^ Jin, Berber (August 15, 2022). "Andreessen Horowitz Backs WeWork Co-Founder Adam Neumann's Real-Estate Startup Flow". The Wall Street Journal.
- ^ Molla, Rani (August 17, 2022). "Why does the WeWork guy get to fail up?". Vox Media. Retrieved August 19, 2022.
- ^ a b Ross Sorkin, Andrew; Giang, Vivian; Gandel, Stephen; Hirsch, Lauren; Livni, Ephrat (August 15, 2022). "Adam Neumann Gets a New Backer". The New York Times.
- ^ a b 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.
- ^ "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) - ^ 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". Business Insider. Archived from the original on May 16, 2024. Retrieved May 16, 2024.
- ^ Martin, Iain (September 20, 2024). "WeWork Founder Adam Neumann Brings 'Conscious Community' Real Estate Startup To Saudi Arabia". Forbes. Archived from the original on September 20, 2024.
- ^ 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.