
Investments
44Portfolio Exits
13Partners & Customers
10About The New York Times Company
The New York Times Company (NYSE:NYT) is a global media organization dedicated to enhancing society by creating, collecting, and distributing high-quality news and information. The company includes The New York Times, International New York Times, NYTimes.com, INYT.com, and related properties. The New York Times Company was founded in 1851 and is based in New York, New York.
The New York Times Company Headquarters Location
620 Eighth Avenue
New York, New York, 10018,
United States
(800) 698-4637
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Latest The New York Times Company News
Aug 16, 2022
Adam Neumann is starting a new real estate company called Flow; and it notably has the financial support of prominent Silicon Valley venture capital firm Andreessen Horowitz - an early investor in everything from Facebook to Airbnb New York Times File image of WeWork Founder & CEO Adam Neumann (Source: Reuters) Andrew Ross Sorkin Adam Neumann is back. The founder of WeWork, whose spectacular rise and fall has been chronicled in books, documentaries and a scripted television series, has a new venture — and a surprising backer. Neumann is starting a new company called Flow, focused on the residential real estate market, the DealBook newsletter reports. Notably, it has the financial support of Andreessen Horowitz, the prominent Silicon Valley venture capital firm that was an early investor in everything from Facebook to Airbnb. Andreessen Horowitz is considered royalty among early stage investors, so its backing is a powerful sign of support, and perhaps a rebuke to Neumann’s critics, who have described his leadership of WeWork as a cautionary tale of corporate hubris. The firm’s investment in Flow is about $350 million, according to three people briefed on the deal, valuing the company at more than $1 billion before it even opens its doors. The investment is the largest individual cheque Andreessen Horowitz has ever written in a round of funding to a company. Flow is expected to launch in 2023, and the venture capital giant’s co-founder Marc Andreessen will join its board, these people said. Neumann is planning to make a sizable personal investment in the firm in the form of cash and real estate assets. “It’s often underappreciated that only one person has fundamentally redesigned the office experience and led a paradigm-changing global company in the process: Adam Neumann,” Andreessen wrote in a note posted on his firm’s website Monday, explaining his rationale for investing in the company. At its height, WeWork was valued at some $47 billion. After a botched public offering and tales of mismanagement, it imploded spectacularly. Neumann was ousted from WeWork in 2019, but he walked away with hundreds of millions of dollars. Today, WeWork has a market value of about $4 billion. Andreessen wrote that “we love seeing repeat-founders build on past successes by growing from lessons learned.” For Neumann, he added, “the successes and lessons are plenty.” Neumann, who has purchased more than 3,000 apartment units in Miami; Fort Lauderdale, Florida; Atlanta; and Nashville, Tennessee; aims to rethink the rental housing market by creating a branded product with consistent service and community features. Flow will own and operate the properties Neumann had bought and also offer its services to new developments and other third parties. Exact details of the business plan could not be learned. (Flow is unrelated to the crypto company Flowcarbon, which was also co-founded by Neumann and raised $70 million in May in a round led by Andreessen Horowitz.) It appears Neumann’s business will follow a very different model than WeWork, which involved renting office space on a long-term basis and then re-renting it to clients at higher rates for shorter terms. This created its own risks if WeWork was unable to find renters. In the case of Flow, the business is effectively a service that landlords can team up with for their properties, somewhat similar to the way an owner of a hotel might contract with a branded hotel chain to operate the property. The investment thesis for Flow appears to reflect economic and social trends that are driving more people to rent homes rather than buy them at a time when there is a housing shortage. A third of Americans rent their homes, and more than half of Americans living in urban settings are renters. Neumann made a brief foray into the residential real estate market during his time at WeWork. The company created a division called WeLive that offered short-term rentals and experiences. The business was derided as a social experiment run amok and quickly shut down, one of a few divisions — like WeGrow and Rise by We — that took WeWork away from its core focus. Neumann has said that the company expanded into too many areas too quickly. The investment in Flow, while large by venture capital standards, is still far smaller than the $9 billion that Masayoshi Son, the founder of SoftBank, invested in WeWork with the mandate for Neumann to grow the company as quickly as possible. When WeWork nearly collapsed, Son invested another $9 billion in the company to shore up its finances, leading to Neumann’s ouster. Andreessen said in his memo that he was particularly interested in Flow because he believed the rental real estate market was ripe for disruption, especially now that more people are working from home and “will experience much less, if any, of the in-office social bonding and friendships that local workers enjoy.” He also hinted that the company might try to address one of the biggest challenges renters face: “You can pay rent for decades and still own zero equity — nothing.” He added: “In a world where limited access to homeownership continues to be a driving force behind inequality and anxiety, giving renters a sense of security, community and genuine ownership has transformative power for our society.” It is unclear whether Flow will offer a rent-to-own program or some other mechanism for renters to create equity. Andreessen and other tech moguls recently opposed a plan for multifamily homes near their estates in the town of Atherton, California. Neumann declined to comment. In an interview at the DealBook Summit last year, he said of his rise and fall at WeWork that “I have had a lot of time to think, and there have been multiple lessons and multiple regrets.” c.2022 The New York Times Company New York Times
The New York Times Company Investments
44 Investments
The New York Times Company has made 44 investments. Their latest investment was in OpenWeb as part of their Series E on November 11, 2021.
The New York Times Company Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
11/9/2021 | Series E | OpenWeb | $150M | Yes | 16 | |
9/9/2020 | Series A - II | Trint | Yes | 2 | ||
8/19/2019 | Unattributed VC | LiveLike | $1.48M | Yes | 2 | |
8/1/2019 | Seed VC | |||||
10/25/2018 | Series A |
Date | 11/9/2021 | 9/9/2020 | 8/19/2019 | 8/1/2019 | 10/25/2018 |
---|---|---|---|---|---|
Round | Series E | Series A - II | Unattributed VC | Seed VC | Series A |
Company | OpenWeb | Trint | LiveLike | ||
Amount | $150M | $1.48M | |||
New? | Yes | Yes | Yes | ||
Co-Investors | |||||
Sources | 16 | 2 | 2 |
The New York Times Company Portfolio Exits
13 Portfolio Exits
The New York Times Company has 13 portfolio exits. Their latest portfolio exit was Scroll on May 04, 2021.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
5/4/2021 | Acquired | 22 | |||
2/19/2021 | Acquired | 7 | |||
7/30/2020 | Acquired | 5 | |||
The New York Times Company Acquisitions
9 Acquisitions
The New York Times Company acquired 9 companies. Their latest acquisition was The Athletic on January 06, 2022.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
1/6/2022 | Series D | $168.22M | Acquired | 28 | ||
7/23/2020 | ||||||
3/23/2020 | Seed / Angel | |||||
10/24/2016 | ||||||
8/12/2016 |
Date | 1/6/2022 | 7/23/2020 | 3/23/2020 | 10/24/2016 | 8/12/2016 |
---|---|---|---|---|---|
Investment Stage | Series D | Seed / Angel | |||
Companies | |||||
Valuation | |||||
Total Funding | $168.22M | ||||
Note | Acquired | ||||
Sources | 28 |
The New York Times Company Partners & Customers
10 Partners and customers
The New York Times Company has 10 strategic partners and customers. The New York Times Company recently partnered with Meta on July 7, 2022.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
7/29/2022 | Partner | United States | No News is Good News? Meta Loses Interest in Partnership With US News Publishers Social media giant Meta * has apparently decided that its partnership with US news publishers no longer suits the company 's interests , Axios reports . | 1 | |
7/14/2022 | Partner | United States | 1 | ||
7/5/2022 | Partner | Sweden | 1 | ||
3/8/2022 | Partner | ||||
10/8/2021 | Vendor |
Date | 7/29/2022 | 7/14/2022 | 7/5/2022 | 3/8/2022 | 10/8/2021 |
---|---|---|---|---|---|
Type | Partner | Partner | Partner | Partner | Vendor |
Business Partner | |||||
Country | United States | United States | Sweden | ||
News Snippet | No News is Good News? Meta Loses Interest in Partnership With US News Publishers Social media giant Meta * has apparently decided that its partnership with US news publishers no longer suits the company 's interests , Axios reports . | ||||
Sources | 1 | 1 | 1 |
The New York Times Company Team
38 Team Members
The New York Times Company has 38 team members, including current President, Stephen Dunbar Johnson.
Name | Work History | Title | Status |
---|---|---|---|
Stephen Dunbar Johnson | President | Current | |
Roland Caputo | Chief Financial Officer, Executive Vice President | Current | |
Cindy Taibi | Chief Information Officer, Senior Vice President | Current | |
R Anthony Benten | Senior Vice President | Current | |
Andrew Gutterman | Senior Vice President | Current |
Name | Stephen Dunbar Johnson | Roland Caputo | Cindy Taibi | R Anthony Benten | Andrew Gutterman |
---|---|---|---|---|---|
Work History | |||||
Title | President | Chief Financial Officer, Executive Vice President | Chief Information Officer, Senior Vice President | Senior Vice President | Senior Vice President |
Status | Current | Current | Current | Current | Current |
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