WeWork co-founder lines up $350 million A16Z investment for a new billion-dollar real estate venture
by Emma Roth from The Verge - All Posts on (#62H93)
WeWork co-founder Adam Neumann. | Photo by Ryan Muir / Getty Images via The New York Times 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, the venture capital firm invested around $350 million in Neumann's up-and-coming real estate business, called Flow, which aims to provide a consistent housing experience across a chain of branded apartment complexes.
If you're at all familiar with the story of WeWork, you might be having a bit of deja vu. The company, which provides flexible office spaces for workers, was once valued at $50 billion. But after a failed IPO (initial public offering) and the layoffs of thousands of its workers, WeWork became more...