Adam Neumann's new property startup is worth $1B even before launch!
Adam Neumann, the controversial WeWork founder, is back after three years with his new business Flow, which has received the largest single-round investment from famous Silicon Valley investor a16z. However, this has failed to please the tech and venture capital communities. WeWork's infamous founder Adam Neumann, who the VCs ousted in 2019 for financial fraud, mismanagement, and managing a terrible work culture, might raise a large check again, especially in a venture bear market — and for a firm that hasn't even debuted yet. Andreessen Horowitz (a16z), a major Silicon Valley venture capital company known for its early bets on Airbnb and Twitter, made a $350 million pre-seed investment in Neumann's new business Flow last evening IST, valuing the soon-to-be-launched residential real estate firm at $1 billion (unicorn). While a16z's official blog article did not disclose any financial specifics of the transaction, the media estimated it to be $350 million, cit...