Flow (real estate company)
| Company type | Private |
|---|---|
| Industry | Real estate |
| Founded | 2022 |
| Founder | Adam Neumann |
| Headquarters | , United States |
Area served | Nashville, Tennessee; Atlanta; Miami; Fort Lauderdale, and Riyadh, Saudi Arabia |
Number of employees | c. 150 (2023)[1] |
| Website | flow |
Flow is an American residential real estate company founded in 2022 by Adam Neumann, the former CEO of WeWork.[2] Headquartered in Miami, Florida,[3] the company aims to address aspects of the housing shortage in the United States by incorporating technology, fostering social interaction, and promoting equity for renters.[4]
History
[edit]Flow launched with significant backing from the venture capital firm Andreessen Horowitz, which invested $350 million in August 2022, valuing the company at over $1 billion.[5] This funding made Flow a unicorn before it commenced operations.[6] According to The Wall Street Journal, Andreessen Horowitz received a stake in Flow’s real estate portfolio as part of the investment.[7]
The company initially focused on managing over 3,000 apartment units across Nashville, Tennessee, Atlanta, Georgia, and Florida (Miami and Fort Lauderdale).[8]
In 2024, Flow expanded internationally into Saudi Arabia, partnering with local investors to develop and operate apartment complexes in Riyadh.[9]
Business model
[edit]Flow's approach combines traditional property management with concierge services and technology solutions for renters and landlords. The company also aims to foster a sense of community among tenants through innovative social interaction models.[10]
The company’s plans include managing both Neumann's properties and those owned by third-party landlords.[8] Flow’s business model continues to evolve, with further details on its operational strategy yet to be disclosed as of late 2024.[11]
Acquisitions
[edit]In May 2024, Flow acquired Whalebone, a lifestyle magazine based in Montauk, New York. Following the acquisition, the publication was renamed Flow Trip to align with the company’s branding.[12]
In September 2024, Flow announced the acquisition of a 30% stake in Canada Global, a public real estate development company in Israel. This partnership aims to extend their real estate activities beyond Israel, initially focusing on opportunities in the United States.[13]
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.
- ^ Jin, Berber (August 15, 2022). "Andreessen Horowitz Backs WeWork Co-Founder Adam Neumann's Real-Estate Startup Flow". The Wall Street Journal.
- ^ 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.
- ^ Molla, Rani (August 17, 2022). "Why does the WeWork guy get to fail up?". Vox Media.
- ^ Ross Sorkin, Andrew; Giang, Vivian; Gandel, Stephen; Hirsch, Lauren; Livni, Ephrat (August 15, 2022). "Adam Neumann Gets a New Backer". The New York Times.
- ^ Ross Sorkin, Andrew (August 15, 2022). "Adam Neumann's New Company Gets a Big Check From Andreessen Horowitz". The New York Times.
- ^ Putzier, Konrad (September 13, 2022). "Adam Neumann Handing Over Part of Property Holdings to Fund Startup". The Wall Street Journal.
- ^ a b Ross Sorkin, Andrew (August 15, 2022). "Adam Neumann Gets a New Backer". The New York Times.
- ^ Martin, Iain (September 20, 2024). "WeWork Founder Adam Neumann Brings 'Conscious Community' Real Estate Startup To Saudi Arabia". Forbes.
- ^ 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.
- ^ "Archived copy". Archived from the original on November 14, 2023. Retrieved December 14, 2023.
{{cite web}}: CS1 maint: archived copy as title (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.
- ^ "Adam Neumann's Flow expands global footprint with Canada Global stake and Saudi partnership". The Jerusalem Post. September 29, 2024. Retrieved December 9, 2024.