Who says second homes are only for the 1 percent?
A group of ex-Zillow executives, including former CEO Spencer Rascoff, has just launched Pacaso, a startup looking to redefine the fusty timeshare. The marketplace will allow buyers to
purchase from one-eighth to one-half of a vacation home. Its network of agents and suite of tech tools help owners manage the process.
“The mission of Pacaso is to democratize second-home ownership,” Rascoff said in a statement.
Based in San Francisco, Pacaso is launching with $17 million in Series A funding led by Maveron, with participation from Crosscut and Global Founders Capital. It also has backing from prominent business executives including former Starbucks CEO Howard Schultz; Jeff Wilke, Amazon’s CEO of consumer worldwide; Greg Schwartz, former Zillow president of media and marketplaces; and real estate coach Tom Ferry.
In addition to Rascoff, Pacaso’s founding team includes