Andreessen Horowitz backs Flow, a residential real estate company launched by WeWork founder Adam Neumann
AW Capital Management LLC (Andreessen Horowitz) founder Marc Andreessen said in a blog post Monday his firm is investing in Flow, a new residential real estate company led by WeWork Inc. (WE) founder Adam Neumann. While launching a company in the real estate business remains a "heavy lift", Andreessen said his firm is "excited to go on this journey with [Neumann] and his colleagues building the future of living." The company aims to address the changing dynamics of the residential real estate market, which includes people who have moved away from traditional economic hub cities to different cities, towns, or rural areas, "with no diminishment of economic opportunity." The New York Times reported that Andreessen Horowitz committed $350 million to Flow at a valuation of $1 billion.
(END) Dow Jones Newswires
August 15, 2022 08:51 ET (12:51 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.