WeWork's former CEO Adam Neumann has managed to score a massive investment for his new startup Flow.
👉 Background: Adam Neumann is the co-founder and former CEO of WeWork, the coworking space company, and he's pretty controversial. WeWork’s culture under his leadership was reportedly not great... and he trademarked the word 'we' and sold it back to his own company for $5.9 million USD 🙃.
👉 What happened: WeWork’s valuation also tanked over 80% under his reign. But it turns out that was just the beginning, because Neumann has managed to raise a cool $350 mil for his new startup Flow.
👉 What else: What does Flow do? It plans to revolutionise residential rentals… but we don't really know exactly how yet…
💡Being a second or third time founder has its perks, especially when it comes to an investors' willingness to jump in. Second time founders have the benefit of experience.
💡In fact, founders of failed startups have a 20% higher chance of succeeding in their next venture, according to a Harvard report.
💡Adam Neumann is a pretty extreme example of this. But the investor, Andreessen Horowitz say they “love seeing repeat-founders build on past successes by growing from lessons learned”. We’ll soon find out whether this theory pans out… or whether Flow becomes the inspiration for the next WeCrashed.
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