He screwed up the $47 billion business but didn't give up: Adam Neumann

Adam Neumann is a prominent Israeli-American businessman known as the co-founder of WeWork. Born in Israel, he joined the Israeli Navy at the age of seventeen. His sister, Adi Neumann, a famous model, had gone to New York for a career. After his military service, the man moved to New York City, USA, at the age of twenty-two. After several failed attempts, he founded the next generation real estate company wework, inspired by the collective working method found in kibbutz. Neumann, who was penniless by the age of 30, had a fortune of $2 billion before he turned 40.

Adam Neumann (born April 25, 1979) is an Israeli-American businessman and investor. In 2010, he co-founded WeWork with Miguel McKelvey, where he served as CEO from 2010 to 2019. In 2019, he co-founded a family office dubbed 166 2nd Financial Services with his wife, Rebekah Neumann, to manage their personal wealth, investing over a billion dollars in real estate and venture startups.b Neumann has dyslexia, and could not read or write until he was in third grade. As a child, he lived in a kibbutz. He is a former officer in the Israeli Navy. He later attended the Zicklin School of Business at Baruch College in New York City.

The man pays attention to the Sabbath (Saturday), which is considered sacred to the Jews, and never works. He cuts off all communication with the world, does not use the phone or car. His wife, Rebekah Paltrow Neumann, is the sister of famous actress Gwyneth Paltrow and they have 5 children. The entire family spends the Sabbaths together, lighting candles, singing songs, and having meals with their kin.

In 2014, WeWork, led by Neumann, became a rapidly growing office rental company aiming to reach every continent except Antarctica. In early 2015, it had 51 locations spread across the US, Europe and Israel, and by February 2016 their valuation had jumped to $15 billion. By mid-2018, the company had 253 locations in 22 countries. It was spread over a vast and expansive space, managing more than 1.3 million square feet of office space. The company was valued at $47 billion.

In January 2019, the company changed its legal name to We Company. Later in the same year, the company began to experience serious losses. In September 2019, it was revealed that SoftBank, the company's largest investor, had lost confidence in Neumann's leadership and requested that he be removed from his CEO position. Under pressure from the board of directors, Neumann resigned from his position as CEO of the company he founded on September 24, 2019.

May 2022

Adam Neumann, who started with a great idea and brought his company to tremendous value, but disappeared as quickly as he could not achieve the same success on the balance sheet, returned to the start-up market. 5 years ago, Neumann made the headlines of the world's largest newspapers with his company called WeWork. WeWork was renting office spaces with long-term contracts and transferring them to someone else with shorter-term contracts.

Adam Neumann's new venture, Flowcarbon, is the intersection of carbon and crypto. The venture received an investment of $70 million led by Andreessen Horowitz.

WeWork, one of the most important startups in the world in mid-August 2019 with a valuation of $ 47 billion, was on the verge of bankruptcy in just 6 weeks. Adam Neumann, the ambitious founder and former CEO of WeWork, was subsequently sacked. Despite the disappointment of his WeWork journey, Adam Neumann was not ready to leave Silicon Valley.

Neumann, which invested in the ridesharing startup GoTo Global in July 2020, is now here with its new blockchain initiative.

Flowcarbon is the intersection of carbon and crypto. It uses web3 to protect the world's natural carbon sinks. Thanks to Flowcarbon's protocol, companies that want to reduce their carbon footprint can get carbon credits converted into tokens.

According to the information on Flowcarbon's site, the loans in question can be traded on crypto exchanges. In the meantime, let's add that it is certified through the conversion of carbon credits into tokens. The name of the initiative's token is Goddess Nature Token. The token, abbreviated as GNT, is located on the Celo blockchain.

Meanwhile, token credits can also be delivered physically upon request. Thus, companies can also sell outside the blockchain. They will say that the GNT special sale will end in 2 days, the public GNT sale can be accessed through the site.

The venture was founded by Adam Neumann and his wife, Rebekah Neumann. The founding team also includes Dana Gibber, Caroline Klatt and Ilan Stern. Dana Gibber is also the CEO of Flowcarbon. Klatt takes on the role of COO, while Phil Fogel serves as "Chief Blockchain Officer." Flowcarbon operates in offices in New York, Montana and Berlin with a team of 35 people.

Flowcarbon received an investment of 70 million dollars under the leadership of Andreessen Horowitz. General Catalyst, Samsung Next, 166 2nd, Sam and Ashley Levinson, RSE Ventures and Allegory Labs participated in the investment round. The investment was made through equity purchases and token sales by VCs. In this context, it should be noted that Fifth Wall, Box Group and Celo Foundation took part in the token sale.

It is surprising that investment companies showed interest in Adam Neumann after the events at WeWork. We will watch and see what steps Adam Neumann's blockchain initiative will take in the coming days.