WeWork co-founder and former chief executive Adam Neumann’s career arc has felt synonymous with the rise and eventual fall of unicorn dreams. The entrepreneur, whose fall from grace has attracted global interest, just found a ladder in the form of a check from storied venture capital firm Andreessen Horowitz.
Andreessen Horowitz announced on Monday that it has written its largest single check to-date into Neumann’s new startup, Flow. The stealthy startup is trying to reinvent real estate (again), but instead of commercial properties, which WeWork focused on, Neumann is looking into revolutionizing rental properties. Horowitz’s check, reportedly upwards of $350 million, values the not-yet-launched company at over $1 billion, according to The New York Times. (Andreessen Horowitz declined to comment beyond the blog post, and Flow did not respond immediately to request for comment.) It is unclear how the deal is structured between equity financing or debt financing.