Pacaso

Austin Allison and Spencer Rascoff, ex-Zillow executives, co-founded the start-up in October 2020{{Cite web |last=Kirsch |first=Noah |date=2021-04-24 |title=Just Five Months Old, Zillow Cofounder's Pacaso Claims It's Already A Unicorn |url=https://www.forbes.com/sites/noahkirsch/2021/03/24/just-five-months-old-zillow-cofounders-pacaso-claims-its-already-a-unicorn/?sh=4ebd45fb5487 |access-date=2021-10-18 |website=Forbes}} in Silicon Valley, California.{{Cite web|url=https://www.forbes.com/sites/everettpotter/2021/06/27/pacaso-disrupting-vacation-home-ownership/?sh=4a35a539693a |title=Pacaso Disrupting Vacation Home Ownership|date=2021-06-27|access-date=2021-10-18|website=Forbes|last=Potter|first=Everett}}

Pacaso’s valuation rose to $1.5 billion in September 2021 following a $125 million funding round led by SoftBank Group.{{Cite web|url=https://www.reuters.com/business/home-co-ownership-platform-pacaso-raises-125-mln-round-led-by-softbank-2021-09-14/|title=Home co-ownership platform Pacaso raises $125 mln in round led by SoftBank|date=2021-09-14|access-date=2021-10-18|website=Reuters|last=Lanhee Lee|first=Jane}} Other investors include Greycroft Partners and Global Founders Capital.{{Cite news |date=2021-03-24 |title=Rascoff's Pacaso valults to unicorn status as greycroft invests |url=https://www.bloomberg.com/news/articles/2021-03-24/rascoff-s-pacaso-vaults-to-unicorn-status-as-greycroft-invests |access-date=2021-10-18 |work=Bloomberg}} In September 2024, Pacaso launched a Regulation A+ equity crowdfunding round aimed at raising up to $75 million from retail investors. Pacaso is reported to have separately obtained $1 billion in debt financing.

As of May 2024, the company is active in nearly 40 markets in the U.S., as well as in the United Kingdom, Mexico, and France.{{cite web |last1=Waldek |first1=Stefanie |title=The Newfangled Real Estate Companies Making Vacations Easier |date=March 11, 2022 |url=https://www.architecturaldigest.com/story/vacation-home-options-pacaso |publisher=Architectural Digest |access-date=March 11, 2022}}{{cite news |last1=Tan |first1=Gillian |title=SoftBank Vision Fund 2 Bets on Pacaso at $1.5 Billion Valuation |url=https://www.bloomberg.com/news/articles/2021-09-14/softbank-vision-fund-2-bets-on-pacaso-at-1-5-billion-valuation |newspaper=Bloomberg |date=September 14, 2021 |access-date=September 14, 2021}}{{cite web |title=Real Estate Company Pacaso |url=https://www.nshoremag.com/community-news/real-estate-company-pacaso-expands-luxury-home-co-ownership-to-cape-cod/ |website=nshoremag.com |date=May 11, 2022 |access-date=June 14, 2022}}

Pacaso operates on a fractional ownership model. The company purchases single-family homes, performs light renovations, furnishes them, and transfers each property into a dedicated limited liability company (LLC). Ownership of the LLC is divided into up to eight shares, which are then sold through Pacaso's platform.{{Cite news |last=Rosalsky |first=Greg |date=2021-08-24 |title=A Startup Is Turning Houses Into Corporations, And The Neighbors Are Fighting Back |url=https://www.npr.org/sections/money/2021/08/24/1030151330/a-unicorn-startup-is-turning-houses-into-corporations |access-date=2025-05-19 |work=NPR |language=en}}

Each share entitles the owner to use the property for up to 44 nights per year, with a maximum stay of 14 consecutive nights per visit. Owners can also assign their time to friends or family. Pacaso provides a mobile application to manage scheduling and oversees property management, maintenance, and cleaning.

The company charges a 12% service fee on the initial purchase price and collects monthly management fees. Shareholders are required to hold their interest for a minimum of one year, after which they may resell their share, potentially realizing gains or losses based on changes in the property's value.

A 2025 study by the Bay Area Council Economic Institute found that Pacaso homes in California had an 89% occupancy rate, compared to 39% for traditional second homes. The report noted higher local spending, increased tax revenue, and more consistent support for local businesses.{{Cite web |last=Guo |first=Hao |date=2025-03-19 |title=Innovative Co-Ownership Models Offer Promising Solution to California’s Housing Crisis |url=https://www.bayareacouncil.org/housing-and-sustainable-development/innovative-co-ownership-models-offer-promising-solution-to-californias-housing-crisis-2/ |access-date=2025-05-12 |website=Bay Area Council |language=en-US}}

Pacaso has encountered opposition from some local communities. In Sonoma County, residents have advocated for stricter regulations on co-ownership arrangements, expressing concerns that such models could undermine the area's sense of community. Co-founder Austin Allison has stated that some early resistance stemmed from confusion between Pacaso’s model and short-term rental platforms such as Airbnb.{{Cite web |last=Reilly |first=Claire |date=2025-03-11 |title=Silicon Valley's new disruption: Sharing your second home |url=https://www.axios.com/local/san-francisco/2025/03/11/silicon-valley-new-disruption-sharing-your-second-home-pacaso |access-date=2025-05-19 |website=Axios |language=en}}

{{reflist}}

• [https://www.pacaso.com/ Pacaso Official Site]

Category:American real estate websites

Category:Companies based in San Francisco

Category:Real estate services companies of the United States

Category:Internet properties established in 2020