Former WeWork CEO and co-founder Adam Neumann is trying to make a comeback in the form of a residential real estate venture that has already received funding and is valued at more than $1 billion.
Neumann’s planned real estate business, Flow, has received $350 million in funding from Andreessen Horowitz, a venture capital firm that is an early investor in Silicon Valley giants Twitter and Airbnb.
(AFP)
(AP)
Marc Andreessen, co-founder of Andreessen Horowitz, announced the fund on his blog Monday and said the way people live and work has changed dramatically over the past two years, with more people working from home and young people in particular moving to big cities. people. people.
“The residential real estate world needs to take these changes into account. But almost no aspect of the current housing market is ready for these changes,” he wrote.
“So we’re excited to partner with Adam Neumann and his colleagues at Flow, who are a direct hit on this one.”
Flow’s official website does not specify the nature of the work. But Newspaper “New York TimesHe said Neumann’s goal is to provide consistent quality housing across the branded housing development network.
Under the leadership of Adam Neumann, WeWork became famous for attempting to revolutionize office life by creating shared and co-working spaces. But his tenure as CEO has been rocky, with allegations of brutal behavior including drug use and partying excessive.
His behavior caught media attention as WeWork prepared for an IPO, eventually leading to his resignation in 2019.
Interest in Neumann was rekindled earlier this year thanks to the Apple TV+ lineup. WeCrashedrealized the rapid rise and fall of the company. The series stars Jared Leto as Neumann and Anne Hathaway as his wife, Rebecca.
Source: Breitbart
