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The Latest SPAC News and Rumors: August 16, 2022
by Marlena Haddad on 2022-08-16 at 11:36am

 


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Andreessen Horowitz backs Adam Neumann’s real estate firm Flow, and Babylon said to mull take-private not long after SPAC deal


Silicon Valley Giant Andreessen Horowitz Backs Adam Neumann’s Real Estate Firm Flow

Venture capital giant Andreessen Horowitz said on Monday it would be investing in Adam Neumann’s residential real estate company Flow, backing the WeWork Inc (NYSE:WE) co-founder who has often drawn criticism for his allegedly erratic management style.

The investment was announced in a blog post by Marc Andreessen, co-founder and general partner at the venture capital firm. The blog did not disclose the financial details of the investment.

WeWork ultimately went public last year through a merger with a SPAC in a deal that valued the office-sharing startup at $9 billion, a steep drop from the $47 billion it was worth in 2019.

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Babylon Weighs Take-Private Not Long After SPAC Deal

The owners of Babylon Holdings Ltd. (NYSE:BBLN) are starting to consider the possibility of taking the health tech company private, less than a year after it went public, people familiar with the matter said.

Babylon, founded by its Chief Executive Officer Ali Parsa, has been holding preliminary discussions with some investors about how to address a crumbling share price that’s wiped almost $4 billion off its value since its October listing in New York, the people said. It went public via a merger with Alkuri Global Acquisition Corp., a SPAC, run by former Groupon Inc. executives.

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