Second Season of WeCrashed?
If you haven't already heard the news - Adam Neumann has raised 350 million from Andreesen Horowitz for his yet to launch real-estate startup Flow.
Details on Flow are scant, but the company seeks to address America’s housing crisis, in part by offering community-centric services in apartment properties.
Already, Neumann has purchased thousands of residential units in Atlanta; Fort Lauderdale, Florida; Miami; and Nashville, Tennessee, where he plans to operate as landlord.
The partnership between Andreessen Horowitz and Neumann is noteworthy for several reasons. It’s a validation for the controversial WeWork co-founder. And Marc Andreessen, who co-founded the venture capital firm and wrote a blog post Monday in support of Neumann’s venture, openly objected to a housing development proposal in his home city of Atherton, California, this summer.
As noted by the Times, this investment marks the “largest individual check Andreessen Horowitz has ever written in a round of funding to a company.”
It puts Flow’s valuation at over $1 billion — despite critics “who have described his leadership of WeWork as a cautionary tale of corporate hubris” — and it hasn’t even launched yet.
What do you all think? Smart investing or is this just more proof of the concrete ceiling that exists in the world of tech funding where the men despite failing keep getting funded whilst women struggle to continually prove themselves. Thoughts? Leave your comments below