A16Z invests $350M in Waft, an actual property startup from arguable WeWork co-founder

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Challenge capital company Andressen Horowitz (A16Z) has invested $350 million in Waft, the actual property startup through arguable WeWork co-founder, Adam Neumann, a lot of shops have reported.

That $350 million represents the biggest unmarried funding made through the mythical VC company, and puts Waft’s worth in way over $1 billion. Sure people, that implies Waft has reached unicorn standing sooner than it even opens for trade.

So what does Waft do, you ask? We are aware of it makes a speciality of the apartment marketplace.

In line with TechCrunch, which used to be mentioning the New York Instances, “The startup is about to function over 3,000 rental gadgets Neumann has bought in Miami, Citadel Lauderdale, Atlanta and Nashville as a part of its imaginative and prescient to convey community-oriented options to the apartment marketplace.”

The Verge says Waft “targets to offer a constant housing enjoy throughout a sequence of branded rental complexes.”

CNBC, additionally mentioning the New York Instances stated that Waft is “successfully a provider that landlords can group up with for his or her homes, quite very similar to the best way an proprietor of a resort may contract with a branded resort chain to function the valuables.”

Nonetheless fuzzy? You’re no longer on my own. Rapid Corporate writes, “The magnetic (and arguable) cofounder of WeWork is again with a brand new undertaking. We’re no longer completely positive what it does.” It does upload, alternatively that, “Waft needs to be a housing utopia for far off staff,” and reminds that “Neumann attempted residential actual property sooner than and failed… WeLive, co-living areas in New York and Virginia. The plans to amplify to India and Israel briefly shuttered, and in 2019, WeLive was the topic of an investigation through New York Town.”

Need extra on Adam Neumann? You’ll watch WeWork: Or the Making and Breaking of a $47 Billion Unicorn, a Hulu-produced documentary.

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