Ousted WeWork CEO invests in 'future of living' startup Alfred
One year ago, WeWork was getting bailed out by SoftBank after a disastrous attempt at going public that resulted in the ouster of its CEO and cofounder Adam Neumann.
But it appears Neumann doesn't intend to stray far from real estate. Neumann's family office -- 166 2nd LLC -- has led a $42 million investment round in Alfred, a startup that works with residential buildings to provide a concierge-like services for residents, according to a spokesperson for Alfred.
According to Bloomberg, which first reported the news, Neumann's family office put $30 million into the round. Two sources familiar with the deal confirmed this amount to CNN Business.
Other investors in the round include venture capital firms Spark Capital and New Enterprise Associates, as well as Greystar, the real estate company, according to a press release from Alfred.
"Adam has been impressed by what these two visionary founders have accomplished over the last six years as they work to transform apartment living. Adam is excited to support Marcela, Jess, and the rest of the Hello Alfred team as the company continues grow," a spokesperson for Neumann said in a statement to CNN Business.
Neumann's interest in residential real estate was evident in WeWork's foray into the sector. In 2016, the company launched WeLive, a co-living concept that never scaled.
