Nearly three years after Adam Neumann stepped down as CEO of WeWork following a failed attempt to take the company public, he is said to once again be in charge of a billion-dollar real estate startup.
Andreessen Horowitz, the prominent venture capital firm known for its early investments in Twitter and Airbnb, has pumped about $350 million into Neumann's newest venture, called Flow, according to The New York Times, citing unnamed sources briefed on the deal. The investment valued the startup at more than $1 billion, according to the report. Representatives for Flow and Andreessen Horowitz did not immediately respond to requests for comment.
Former WeWork CEO is getting a massive payout 02:29WeWork's dramatic rise and spectacular failed first attempt at going public inspired a TV show, which partly portrayed Neumann as the poster child of startup culture's excess. WeWork ultimately went public via a special purpose acquisition company, or SPAC, in 2021. WeWork currently has a market value of about $4 billion.
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