| Company type | Private |
|---|---|
| Industry | Real estate |
| Founded | 2022; 3 years ago (2022) |
| Founder | Adam Neumann |
| Headquarters | Miami, Florida, United States |
| Area served | Nashville, Tennessee; Atlanta; Miami; Fort Lauderdale, and Riyadh, Saudi Arabia |
| Number of employees | c. 150 (2023) |
| Website | flow |
Flow is an American residential real estate company founded in 2022 by Adam Neumann, the former CEO of WeWork. Headquartered in Miami, Florida, the company aims to address aspects of the housing shortage in the United States by incorporating technology, fostering social interaction, and promoting equity for renters.
History
Flow launched with significant backing from the venture capital firm Andreessen Horowitz, which invested $350 million in August 2022, valuing the company at over $1 billion. This funding made Flow a unicorn before it commenced operations. According to The Wall Street Journal, Andreessen Horowitz received a stake in Flow’s real estate portfolio as part of the investment.
The company initially focused on managing over 3,000 apartment units across Nashville, Tennessee, Atlanta, Georgia, and Florida (Miami and Fort Lauderdale).
In 2024, Flow expanded internationally into Saudi Arabia, partnering with local investors to develop and operate apartment complexes in Riyadh.
Business model
Flow's approach combines traditional property management with concierge services and technology solutions for renters and landlords. The company also aims to foster a sense of community among tenants through innovative social interaction models.
The company’s plans include managing both Neumann's properties and those owned by third-party landlords. Flow’s business model continues to evolve, with further details on its operational strategy yet to be disclosed as of late 2024.
Acquisitions
In May 2024, Flow acquired Whalebone, a lifestyle magazine based in Montauk, New York. Following the acquisition, the publication was renamed Flow Trip to align with the company’s branding.
In September 2024, Flow announced the acquisition of a 30% stake in Canada Global, a public real estate development company in Israel. This partnership aims to extend their real estate activities beyond Israel, initially focusing on opportunities in the United States.
References
- Sraders, Anne (July 11, 2023). "Adam Neumann says his new company Flow, which raised $350 million from a16z, has only two choices: compete with WeWork or partner with it". Fortune.
- Jin, Berber (August 15, 2022). "Andreessen Horowitz Backs WeWork Co-Founder Adam Neumann's Real-Estate Startup Flow". The Wall Street Journal.
- Wong, Natalie (September 19, 2024). "Adam Neumann's Flow Pushes Into Saudi Arabia in First Global Move". Bloomberg News. Archived from the original on September 19, 2024.
- Molla, Rani (August 17, 2022). "Why does the WeWork guy get to fail up?". Vox Media.
- Ross Sorkin, Andrew; Giang, Vivian; Gandel, Stephen; Hirsch, Lauren; Livni, Ephrat (August 15, 2022). "Adam Neumann Gets a New Backer". The New York Times.
- Ross Sorkin, Andrew (August 15, 2022). "Adam Neumann's New Company Gets a Big Check From Andreessen Horowitz". The New York Times.
- Putzier, Konrad (September 13, 2022). "Adam Neumann Handing Over Part of Property Holdings to Fund Startup". The Wall Street Journal.
- ^ Ross Sorkin, Andrew (August 15, 2022). "Adam Neumann Gets a New Backer". The New York Times.
- Martin, Iain (September 20, 2024). "WeWork Founder Adam Neumann Brings 'Conscious Community' Real Estate Startup To Saudi Arabia". Forbes.
- Martin, Iain; Konrad, Alex; Farivar, Cyrus (August 23, 2022). "WeWork Cofounder Adam Neumann's New Real Estate Startup Sounds An Awful Lot Like One He Invested In Two Years Ago". Forbes.
- "Archived copy". Archived from the original on November 14, 2023. Retrieved December 14, 2023.
{{cite web}}: CS1 maint: archived copy as title (link) - Bergman, Ben (May 15, 2024). "Adam Neumann is now in the publishing business, with his residential real estate company buying a quirky Montauk surfing magazine". Business Insider.
- "Adam Neumann's Flow expands global footprint with Canada Global stake and Saudi partnership". The Jerusalem Post. September 29, 2024. Retrieved December 9, 2024.