WeWork co-founder Adam Neumann's new residential real estate startup Flow may expand to Saudi Arabia.
Neumann disclosed the news at an event organized by a non-profit backed
by one of Saudi Arabia's largest sovereign wealth fund. Andreessen
Horowitz (a16z) — Flow's largest backer — shares Neumann's enthusiasm
for the nation, with co-founder Ben Horowitz calling Saudi Arabia a
"startup country."
- Horowitz confirmed the news, adding that he was "excited" to bring Flow to the nation.
- A16z invested $350M into Flow in Nov. 2022 at a unicorn valuation of over $1B before the platform was launched.
- A16z's co-founders are seeking capital from investors in Saudi Arabia amidst a venture funding slump in the U.S.
- Horowitz
visited Saudi Arabia in Oct. 2022 and met with Saudi Princess Reema
bint Bandar Al Saud and the governor of the sovereign wealth fund Yasir
Al-Rumayyan.
