WeWork former CEO Adam Neumann starts a new billion-dollar start-up. Read details here

Major Silicon Valley player Anderson Horowitz confirmed investing $350 million in 'Flow', a residential real estate start-up led by former WeWork CEO Adam Neumann.

Nearly three years after stepping down as WeWork boss, Neumann has made a comeback into the real estate industry. His new venture 'Flow' is valued at $1 billion even before its launch.

The 43-year-old's new residential real estate start-up 'Flow' aims to revolutionise the housing industry.


"The start-up would create a system where renters receive the benefits of owners", said Andreessen Horowitz cofounder on Monday.

What do we know about 'Flow' so far?
Flow, a residential real estate company led by Adam Neumann, the controversial founder of WeWork has received funding of $350 million from Anderson Horowitz, the American Venture capital firm.

Reports indicate that the current funding represents the most significant single–round cheque by the Silicon Valley investor. This multi-million-dollar funding by A16Z in Neumann's company has surprised many in the tech and VC community in Silicon Valley.

A16 Z co-founder Marc Anderson holds Neumann in high esteem as a business leader who revolutionised commercial real estate.

In a recent blog post, Anderson mentioned WeWork founder Neumann as a 'visionary who created a niche for the commercial space market, the second largest asset class in the world.'

In addition, Neumann looked differently at the entire value chain, particularly, how the value is distributed among the stakeholders.

Anderson’s blog post titled 'Adam and the story of WeWork' exhaustively analysed and reviewed Neumann and the WeWork story.

Media reports indicate the valuation of the still-to-be-launched 'Flow' is around $1 billion and a unicorn. The company is scheduled to operate over 3000 apartment units in Miami, Fort Lauderdale, Atlanta, and Nashville.

It appears 'Flow' will be mixing up both commercial and residential real estate businesses.

Neumann plans to create a brand with consistent service and community features across the rental properties.

Interestingly, this is the second investment of A16 Z in a Neumann start-up this year.

In May, the VC firm had put $70 million into Flowcarbon, a blockchain-based carbon-credit platform. However, Neumann's two firms, Flowcarbon and Flow, are reportedly unrelated companies.

Incidentally, the value of WeWork crashed from a high of $47 billion under Neumann's leadership amidst reports of mismanagement which led to his ouster from the company.