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Flow (real estate company)

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Flow
Company typePrivate
IndustryReal estate
Founded2022; 2 years ago (2022)
FounderAdam 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]
Websiteflow.life

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

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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

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  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. ^ 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.
  3. ^ Vergolina, Victoria (October 5, 2022). "'Flow' is the New 'We' for Adam Neumann". Bloomberg News. Retrieved October 14, 2022.
  4. ^ 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.
  5. ^ Jin, Berber (August 15, 2022). "Andreessen Horowitz Backs WeWork Co-Founder Adam Neumann's Real-Estate Startup Flow". The Wall Street Journal.
  6. ^ Molla, Rani (August 17, 2022). "Why does the WeWork guy get to fail up?". Vox Media. Retrieved August 19, 2022.
  7. ^ 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.
  8. ^ 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.
  9. ^ "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)
  10. ^ 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.
  11. ^ 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.
  12. ^ 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.