Boost for ousted WeWork founder Adam Neumann as Silicon Valley venture capital firm backs his comeback project
Backing: WeWork founder Adam Neumann (pictured with wife Rebekah)
Ousted WeWork founder Adam Neumann has won financial backing for his comeback project from one of Silicon Valley’s most prominent venture capital firms.
Andreessen Horowitz, which has backed the likes of Facebook and Lyft, is ploughing a reported £290miliion into Neumann’s residential property firm Flow.
The investment was announced in a blog post by Marc Andreessen, co-founder of the investment giant, without setting out financial details.
Neumann was forced to resign as chief executive of WeWork, the shared office space group, three years ago as investors including Japanese conglomerate SoftBank turned on him amid an abortive plan to take the company public