- Source: Flow (real estate company)
Flow is an American residential real-estate company based in Miami, Florida. It was founded in 2022 by the former CEO of WeWork Adam Neumann and funded by the venture capital firm Andreessen Horowitz. 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. 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.
The company was scheduled to launch in 2023, while the business plan has not yet been made public as of 2024. 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.
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.
Flow launched internationally in 2024, expanding into Saudi Arabia and partnering with local investors to develop and own three apartment buildings in Riyadh.
Funding
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. According to The Wall Street Journal, the investment granted Andreessen Horowitz a stake in Flow's real estate portfolio.
References
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