Pacaso raises $75M, goes from launch to unicorn in 5 months.
For one, the team. Former Zillow executives Austin Allison and (CEO and co-founder) Spencer Rascoff came up with the concept of Pacaso after leaving Zillow together about 18 months ago. (Publicly traded Zillow today has a market cap of $32.9 billion.) The company gives people the ability to purchase shares in, and become co-owners of, a second home.
This is such a great idea. What struck me is that it’s not really real estate you are buying (or shares in real estate), what you are buying is the memories, experiences, and traditions you and your family will have at a second home. They are starting at the high end of the market but hope they are able to make this model work with less expensive homes.
I had a great conversation with Austin about Pacaso on my Listing Bits podcast. You can check it out here or wherever you listen to your podcasts.
Great point. Gotta love a business model that allows you to sell something very valuable (ie memories, etc.) at no cost to yourself!
I believe in this model. Is there a way for us normal humans to invest in Pacaso now? The company I mean, not a portion of the home.