Wednesday Mar 29, 2023

Flow Gets Pre-Launch Valuation Of $1 Billion

Flow Gets Pre-Launch Valuation Of $1 Billion

Around three years after Adam Neuman stepped down as the CEO of We Work following allegations of mismanagement, toxic work culture and the company’s failed IPO. Neuman’s new venture is creating ripples in the Silicon Valley. The start-up in real estate sector is called Flow, is already been valued at a billion dollars making it a latest unicorn into the real estate category even before its launch. Reports say prominent venture capital firm Andreessen Horowitz   announced its plans to invest $350 million dollars in the Neuman’s start up Flow.

Flow is a real estate start-up that aims to revolutionize the residential housing industry by addressing modern housing problems. Neuman also want to cash on the present work from home culture that is still prevalent in some parts of the world. Valuation for Neuman’s start-up is also fueled by reports that he has purchased more than three thousand apartment units in Atlanta Fort Lauderdale, Miami and Nashville for flow.

However Flow already has a website that currently offers no explanation except that it will launch in 2023. The 43 year old’s new residential real estate start up Flow aims to revolutionize the housing industry but there is little clarity on how he plans to do that. Neuman’s exit from co working company We Work in 2019 was far unceremonious. We work was once valued at $47 billion at its peak, it went through a disastrous phase to go public. Neuman was ousted from his chief executive role at We work with an exit package running into hundreds of millions of dollars.

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