Pacaso
Pacaso sells eighth shares of luxury vacation homes to eight families. Unicorn within 18 months. Then St Helena banned co-ownership LLCs. The hardest part of property innovation isn
A vacation home sits empty 320 days a year. Picasso saw that waste and built a company around one idea. What if eight families shared ownership of a single luxury property instead of one family letting it sit empty? Austin Allison co-founded Picasso in 2020 after selling .loop to Zillow for 108 million. Picasso buys luxury homes, wraps each in an LC, and sells shares starting at 250,000. Within 18 months, unicorn status at 1.5 billion. Over 1,000 homes across 30 markets. The backlash was fierce. Wealthy neighborhoods organized protests. St Helena banned co-ownership LLCs.
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