Flow (real estate company)
{{Short description|American residential real estate company}}
{{Use mdy dates|date=January 2023}}
{{Infobox company
| name = Flow
| logo =
| caption =
| trading_name =
| native_name =
| native_name_lang =
| type = Private
| industry = Real estate
| founded = {{Start date and age|2022}}
| founder = Adam Neumann
| location_city = Miami, Florida
| location_country = United States
| area_served = Nashville, Tennessee; Atlanta; Miami; Fort Lauderdale, and Riyadh, Saudi Arabia
| num_employees = {{circa|150}} (2023){{cite web |last=Sraders |first=Anne |date=July 11, 2023 |title=Adam Neumann says his new company Flow, which raised $350 million from a16z, has only two choices: compete with WeWork or partner with it |url=https://fortune.com/2023/07/11/adam-neumann-new-company-flow-compete-wework/ |work=Fortune}}
| homepage = {{URL|https://flow.life}}
}}
Flow is an American residential real estate company founded in 2022 by Adam Neumann, the former CEO of WeWork.{{cite news |last=Jin |first=Berber |date=August 15, 2022 |title=Andreessen Horowitz Backs WeWork Co-Founder Adam Neumann's Real-Estate Startup Flow |url=https://www.wsj.com/articles/andreessen-horowitz-backs-adam-neumanns-real-estate-startup-11660592817 |work=The Wall Street Journal |url-access=subscription}} Headquartered in Miami, Florida,{{Cite news |last=Wong |first=Natalie |date=September 19, 2024 |title=Adam Neumann's Flow Pushes Into Saudi Arabia in First Global Move |url=https://www.bloomberg.com/news/articles/2024-09-19/neumann-s-flow-pushes-into-saudi-arabia-in-first-global-move |publisher=Bloomberg News |url-access=subscription |archive-url=https://archive.today/20240919213912/https://www.bloomberg.com/news/articles/2024-09-19/neumann-s-flow-pushes-into-saudi-arabia-in-first-global-move |archive-date=September 19, 2024 |url-status=live}} 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".{{cite news |last=Molla |first=Rani |url=https://www.vox.com/recode/2022/8/17/23309756/wework-adam-neumann-flow-andreessen-venture-capital |title=Why does the WeWork guy get to fail up? |work=Vox Media |date=August 17, 2022 }}
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.{{cite news |author1-link=Andrew Ross Sorkin |first1=Andrew |last1=Ross Sorkin |first2=Vivian |last2=Giang |first3=Stephen |last3=Gandel |first4=Lauren |last4=Hirsch |first5=Ephrat |last5=Livni |url=https://www.nytimes.com/2022/08/15/business/dealbook/adam-neumann-flow-new-company-wework-real-estate.html |title=Adam Neumann Gets a New Backer |work=The New York Times |date=August 15, 2022}} This funding made Flow a unicorn before it commenced operations.{{cite news |author1-link=Andrew Ross Sorkin |first1=Andrew |last1=Ross Sorkin |url=https://www.nytimes.com/2022/08/15/business/dealbook/adam-neumann-wework-startup.html |title=Adam Neumann's New Company Gets a Big Check From Andreessen Horowitz |work=The New York Times |date=August 15, 2022}} According to The Wall Street Journal, Andreessen Horowitz received a stake in Flow’s real estate portfolio as part of the investment.{{cite web |last=Putzier |first=Konrad |url=https://www.wsj.com/articles/adam-neumann-handing-over-part-of-property-holdings-to-fund-startup-11663015364 |title=Adam Neumann Handing Over Part of Property Holdings to Fund Startup |date=September 13, 2022 |work=The Wall Street Journal}}
The company initially focused on managing over 3,000 apartment units across Nashville, Tennessee, Atlanta, Georgia, and Florida (Miami and Fort Lauderdale).{{cite news |author1-link=Andrew Ross Sorkin |first1=Andrew |last1=Ross Sorkin |url=https://www.nytimes.com/2022/08/15/business/dealbook/adam-neumann-flow-new-company-wework-real-estate.html |title=Adam Neumann Gets a New Backer |work=The New York Times |date=August 15, 2022}}
In 2024, Flow expanded internationally into Saudi Arabia, partnering with local investors to develop and operate apartment complexes in Riyadh.{{cite news |last=Martin |first=Iain |title=WeWork Founder Adam Neumann Brings 'Conscious Community' Real Estate Startup To Saudi Arabia |url=https://www.forbes.com/sites/iainmartin/2024/09/20/wework-founder-adam-neumann-brings-conscious-community-real-estate-startup-to-saudi-arabia/ |work=Forbes |date=September 20, 2024}}
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.{{cite news |last1=Martin |first1=Iain |last2=Konrad |first2=Alex |last3=Farivar |first3=Cyrus |title=WeWork Cofounder Adam Neumann's New Real Estate Startup Sounds An Awful Lot Like One He Invested In Two Years Ago |url=https://www.forbes.com/sites/iainmartin/2022/08/23/adam-neumann-flow-wework-alfred |work=Forbes |date=August 23, 2022}}
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.{{Cite web |url=https://www.flow.life/ |title=Archived copy |access-date=December 14, 2023 |archive-date=November 14, 2023 |archive-url=https://web.archive.org/web/20231114145545/https://www.flow.life/}}
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.{{Cite web |last=Bergman |first=Ben |date=May 15, 2024 |title=Adam Neumann is now in the publishing business, with his residential real estate company buying a quirky Montauk surfing magazine |url=https://www.businessinsider.com/adam-neumanns-apartment-bought-a-montauk-surfing-magazine-whalebone-2024-5 |website=Business Insider }}
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.{{Cite web|date=2024-09-29|title=Adam Neumann’s Flow expands global footprint with Canada Global stake and Saudi partnership|url=https://www.jpost.com/business-and-innovation/article-822388|website=The Jerusalem Post|access-date=2024-12-09}}