WeWork co-founder and former CEO Adam Newman is working on a new rental real estate business
Which has received funding from Andreessen Horowitz. According to a report in The New York Times,
The venture capital firm invested $350 million in Newman's up-and-coming real estate business
Which aims to provide a coherent housing experience of branded apartment complexes.
If you're at all familiar with the WeWork story, you might have some déj vu.
The company, which provides flexible office space for workers, was once valued at $50 billion.
But after a failed IPO and layoffs of thousands of its employees,
WeWork became more famous for its corporate drama rather than its actual business.
When Newman stepped down as CEO in 2019, he created a $1.7 billion exit package.
Own Flow-branded in Fort Lauderdale, Atlanta, and Nashville
Already bought 3,000 apartment units to build apartments.