Adam Neumann’s startup Flow opens co-living community in Saudi Arabia

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Flow, Adam Neumann’s co-living startup, opened a compound with 238 apartments in Saudi Arabia’s capital, Riyadh, and Forbes has some details. The opening included an Aztec-themed hot chocolate ceremony and tote bags with the words “holy s— I’m alive” on them. The rent for the furnished units starts at $3,500 a month and includes hotel-style services such as laundry and housekeeping and amenities like pools, co-ed gyms (unusual in Saudi Arabia), and bowling alleys. Flow is building three other properties with nearly 1,000 apartments in Riyadh.

The company’s first but less luxurious properties were opened in Fort Lauderdale and Miami in April.

Flow raised $350 million from Andreessen Horowitz in 2022. The funding raised eyebrows given the mired history of Neumann’s previous startup, WeWork. Once valued at $47 billion, WeWork filed for bankruptcy protection last year and was ultimately acquired by Yardi, a real estate group, for $450 million.



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Adam Neumann’s startup Flow opens co-living community in Saudi Arabia


Flow, Adam Neumann’s co-living startup, opened a compound with 238 apartments in Saudi Arabia’s capital, Riyadh, and Forbes has some details. The opening included an Aztec-themed hot chocolate ceremony and tote bags with the words “holy s— I’m alive” on them. The rent for the furnished units starts at $3,500 a month and includes hotel-style services such as laundry and housekeeping and amenities like pools, co-ed gyms (unusual in Saudi Arabia), and bowling alleys. Flow is building three other properties with nearly 1,000 apartments in Riyadh.

The company’s first but less luxurious properties were opened in Fort Lauderdale and Miami in April.

Flow raised $350 million from Andreessen Horowitz in 2022. The funding raised eyebrows given the mired history of Neumann’s previous startup, WeWork. Once valued at $47 billion, WeWork filed for bankruptcy protection last year and was ultimately acquired by Yardi, a real estate group, for $450 million.



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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