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{"id":12354,"date":"2022-08-15T15:18:09","date_gmt":"2022-08-15T15:18:09","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/08\/15\/wework-co-founder-lines-up-350-million-a16z-investment-for-a-new-billion-dollar-real-estate-venture\/"},"modified":"2022-08-15T15:18:10","modified_gmt":"2022-08-15T15:18:10","slug":"wework-co-founder-lines-up-350-million-a16z-investment-for-a-new-billion-dollar-real-estate-venture","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/08\/15\/wework-co-founder-lines-up-350-million-a16z-investment-for-a-new-billion-dollar-real-estate-venture\/","title":{"rendered":"WeWork co-founder lines up $350 million A16Z investment for a new billion-dollar real estate venture"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/8\/15\/23306197\/wework-adam-neumann-andreesen-horowitz-flow-real-estate<\/a>
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Adam Neumann, the co-founder and former CEO of the shared office startup WeWork, is working on a new rental real estate business that has received funding from Andreessen Horowitz. According to a report from The New York Times<\/em><\/a>, the venture capital firm invested around $350 million in Neumann\u2019s up-and-coming real estate business, called Flow<\/a>, which aims to provide a consistent housing experience across a chain of branded apartment complexes.<\/p>\n

If you\u2019re at all familiar with the story of WeWork, you might be having a bit of d\u00e9j\u00e0 vu. The company, which provides flexible office spaces for workers, was once valued at $50 billion. But after a failed IPO<\/a> (initial public offering) and the layoffs of thousands of its workers<\/a>, WeWork became more well known for corporate drama rather than its actual business<\/a>. When Neumann stepped down as CEO in 2019<\/a>, he made out with a $1.7 billion exit package<\/a>.<\/p>\n

As noted by the Times<\/em>, this investment marks the \u201clargest individual check Andreessen Horowitz has ever written in a round of funding to a company.\u201d It puts Flow\u2019s valuation at over $1 billion \u2014 despite critics \u201cwho have described his leadership of WeWork as a cautionary tale of corporate hubris\u201d \u2014 and it hasn\u2019t even launched yet. <\/p>\n