Technology
Adam Neumann’s Flow Startup Launches Co-Living Community in Saudi Arabia
Flow, Adam Neumann’s co-living startup, has opened a 238-apartment complex in the Saudi capital of Riyadh, Forbes has some details. The opening included an Aztec-style hot chocolate ceremony and bags reading “holy s— I live.” Rent for furnished units starts at $3,500 a month and includes hotel services like laundry and housekeeping, in addition to amenities like swimming pools, coed gyms (unusual in Saudi Arabia) and bowling alleys. Flow is constructing three other properties with almost 1,000 apartments in Riyadh.
The company’s first, less luxurious properties opened in April in Fort Lauderdale and Miami.
Flow raised $350 million from Andreessen Horowitz in 2022. The funding raised questions given the troubled history of Neumann’s previous startup, WeWork. Once valued at $47 billion, WeWork filed for bankruptcy protection last yr and was eventually acquired by Yardi, an actual estate group, for $450 million.