#United States #San Francisco #Pacaso #Inman Proptech #Austin Allison

Pacaso's Remarkable Achievement at the 2024 Inman Best of Proptech Awards

In a remarkable recognition of innovation in the real estate landscape, co-founders of Pacaso, Austin Allison and Spencer Rascoff, have been awarded honors in the prestigious 2024 Inman Best of Proptech Awards. This accolade showcases not only their visionary approach but also underscores the transformative potential of technology in reshaping how luxury vacation homes are bought and co-owned.

Celebrating Innovation and Leadership

Pacaso, an innovative marketplace designed to simplify luxury vacation home ownership, has earned accolades for its unique business model, which allows individuals to buy shares in high-end properties. This approach democratizes access to luxury vacation homes, making them available to a broader audience than previously imaginable.

Inman’s awards spotlight leaders at the cutting edge of property technology. Austin Allison received his recognition in the Entrepreneur category, honoring his role in leading Pacaso’s creative advancements. Meanwhile, Spencer Rascoff was acknowledged in the Venture Capital category for his contributions through 75 Sunny, his venture firm. Both leaders stand out as pivotal figures pushing boundaries in proptech.

Emily Paquette, CEO of Inman, remarked on the significance of these recognitions, stating, "For the second consecutive year, Inman celebrates those who are innovating the future of real estate. These leaders are paving the way for new pathways in residential proptech, transforming the industry for growth."

Financial Growth and Industry Impact

Beyond awards, Pacaso has recently reported a compelling financial performance for the first half of 2024, reflecting substantial growth and operational improvements. The company's financial metrics speak volumes about its momentum and industry acceptance, with an impressive 38% year-over-year increase in adjusted gross profit – totaling approximately $13.2 million. Furthermore, the gross real estate transaction volume, along with associated service fees, amounted to around $88 million, indicating robust demand for co-ownership models in the luxury sector.

Pacaso's journey toward financial sustainability is clear — the company successfully narrowed its adjusted EBITDA losses from $16.9 million to $10.3 million this year, a testament to its effective management strategies and market positioning. Such results underline the company's commitment to delivering exceptional value to its stakeholders and co-owners.

A Glimpse into the Future of Real Estate

As the proptech landscape evolves, companies like Pacaso are redefining industry standards. Recently selected by Inman’s editorial team, the award winners represent a new era of innovation across categories, including alternative financing and advancements in construction technology.

The essence of Pacaso lies in its promise to modernize co-ownership. By offering expertly managed luxury homes in prime locations, the company is not only catering to affluent clients but also setting a new benchmark in collaborative ownership. Their service encompasses professional management, high-caliber amenities, and unparalleled customer service, thereby creating an enriching experience for co-owners.

In conclusion, as the accolades keep rolling in, Pacaso's co-founders stand at the forefront of this transformation in real estate. They embody the spirit of innovation and entrepreneurship, making them integral figures in the ongoing evolution of the proptech sector. For more information on Pacaso and to browse available listings, visit Pacaso.

_Pacaso_ continues to reflect a vision where luxury is more accessible, redefining the way vacation homes can be enjoyed without the burdens of traditional property ownership.

• ---