Pacaso’s Unicorn Status in Jeopardy

Pacaso, Inc. (FKA: Landholdings, Inc.) is modernizing the practice of co-ownership by creating a marketplace that makes buying, owning, and selling a second home easy. It is also a component in the Prime Unicorn Index benchmark, the standard bearer for private markets benchmarking.

In September 2021, Pacaso raised $125mm in a Series C Preferred round led by SoftBank, with participation from Fifthwall, Gaingels, and others which valued the company at roughly $1.5 billion on a post-money valuation basis at a preferred price per share of $5.36. On June 26, 2023, it authorized a Series C-3 preferred round at $1.76 per share, dropping the company’s valuation to roughly $510mm. This jeopardizes the company’s status as a unicorn, meaning it may be removed from the Prime Unicorn Index at the end of the next quarter. 

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