Adam Neumann’s startup Flow opens co-living community in Saudi Arabia
Reading Time: < 1 minutesFlow, 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 problematic 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.
Ref: techcrunch
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