The Ledger
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Rascoff: Reg A offerings are the future of pre-IPO capital raising
“We think it's the future of capital. It's sort of capital raising at this Kind of bridge moment once you're done raising venture capital from traditional Silicon Valley type investors, but before you're publicly traded up.”
Allison: Pacaso initially ignored community resistance in Napa and St. Helena
“When we first started getting feedback, you know, in Napa is where it all started, or St. Helena, actually I just kind of ignored it because I'm like, you know, these people just don't understand. Like, this is actually a great thing for them. These are not re…”
Rascoff: Mortgage rate hikes were a bigger threat to Pacaso than COVID-19
“Actually, frankly, the more almost existential challenge more so than COVID really was the rise in mortgage rates. And that hit the brakes on really most real estate transactions, whole home, partial home, everywhere in between. And so managing through that se…”
Allison: Pacaso hit a $1.5 billion valuation in its first 18 months
“So we grew from, you know, zero to I don't know, billion and a half was our series C valuation, which we did in like the first 18 months. We were operating in 35, 40 markets. We had three to 400 people. I mean, we were growing fast, hundreds and hundreds of pe…”
Allison: Pacaso has sold over $1B in units across 40 destinations
“We've now been around for four and a half years. We've sold, you know, well over a billion dollars of these Picasso units. We have thousands of owners and operate in about 40 destinations around the world.”
Allison: Pacaso sells remaining home interests within 90 days of closing
“What usually happens is about half of the home is spoken for by the time we close. We then take temporary ownership of the other half of the home, and we have great financing partners that enable us to finance that. And then we sell through the remaining inter…”