Now, Flowcarbon has reportedly been issuing refunds after the tokens have failed to materialize more than two years later. Flowcarbon has reportedly been blaming "market conditions and resistance from carbon registries" for the failure to launch, according to a report from Forbes. Flowcarbon claimed they have been offering refunds "due to industry delays" since 2023.
Adam Neumann's Flowcarbon refunds customers after failing to launch "Goddess Nature Token"
In May 2022, WeWork founder and former CEO Adam Neumann announced he would be launching a company called Flowcarbon, which would issue "tokenized carbon credits" called "Goddess Nature Tokens" and sell them to companies looking to green up their image. The company raised $70 million in funding from Andreessen Horowitz and others, at least half of which was raised through token sales.
Adam Neumann continues to fail upwards as VCs throw even more money at the ex-WeWork CEO
In a just world, people would probably not be able to fail upwards quite to the extent of Adam Neumann, who engaged in all sorts of self-dealing and lost billions of dollars, among many other allegations, when he was CEO of WeWork until September 2019.
But Neumann has so far enjoyed a comeback thanks to the likes of Andreessen Horowitz, who led a $70 million funding round in May for Neumann's "Flowcarbon" startup, which aims to sell tokenized carbon credits — sorry, "Goddess Nature Tokens" — to companies trying to green up their image.
Andreessen Horowitz is now enabling another one of Neumann's new crypto schemes to the tune of $350 million — its largest investment to date. This one is just called "Flow", in which Neumann is returning to the real estate industry in a company that aims to help with the residential housing crisis... with blockchain, somehow.
God forbid the venture capitalists give money to deserving founders who haven't already been given, and squandered, a chance. Responding to the news that a16z had put $350 million into Neumann's new gambit — an amount larger than the money raised by all Black-founded startups in the US combined in Q2 — author and investor Kathryn Finney said it was a "slap in the face". "It sends a signal that you can really mess up as a white guy and still get second chances to win," she said.
The WeWork founders are starting a carbon credit crypto company and they already raised $70 million in funding
Adam and Rebekah Neumann, the duo behind the WeWork coworking space company that imploded spectacularly in 2019, have re-emerged to start a company called Flowcarbon. The company intends to "tokenize carbon credits" — which they're calling "Goddess Nature Tokens" — and sell them to companies hoping to green up their image. The need for a blockchain is unclear.
The company has already raised $70 million in token sales and a Series A funding round led by Andreessen Horowitz (aka a16z), which seems like a startling amount of money to give to someone who resigned from his previous company amidst accusations of some serious self-dealing and the creation of toxic corporate culture.