Neumann’s Flow More Than Doubles Valuation, Eyes Eventual IPO

Adam Neumann, the former WeWork chief executive officer, raised more money for his new residential real estate company Flow in a funding round that values the business at roughly $2.5 billion, according to people familiar with the matter.

Flow secured more than $100 million from investors including a16z, according to the people, who asked not to be identified discussing financing details. Neumann is also exploring longer-range plans for the business.