We take the same, or almost, and start again. WeWork founder Adam Neumann is back with a new startup, Flow. He just raised $350 million from the Andreessen Horowitz Foundation, valuing his business at $1 billion. First round record. The plot has an air of déjà vu. Adam Neumann, a young charismatic entrepreneur, proposes to break the path of real estate foreclosures by putting sharing at the center of his concept.
For this, he uses the support of an investment fund, as prestigious as he opens a checkbook. Does the story remind you of anything? It is normal. Three years ago, Adam Neumann resigned as chairman of WeWork after a slow descent into co-working hell. Softbank, Masayoshi Son’s investment fund, injected about 20 billion into the company, which was supposed to go for 47 billion.
With nothing going as planned, the Japanese fund overhauled WeWork’s economic model and pushed its founder to the exit. This time, Adam Neuman is interested in residential real estate.the largest asset class“, according to Marc Andreessen. The investor published a long blog post that aimed to explain this investment choice, drawing on the experience gained by Adam Neiman, without actually lifting the curtain on how Flow works, halfway between renting and buying apartments, and always based on sharing. With a promise to say more… in 2023.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.