Type | Public |
---|---|
Nasdaq: VCSA | |
Industry | Travel (lodging) |
Founded | Portland (2009 ) by Eric Breon and Cliff Johnson [1] |
Headquarters | |
Key people | Rob Greyber, CEO [2] Bruce Schuman, CFO [3] John Banczak, COO [4] T.J. Clark, CCO [5] Bob Milne, SVP Operations [6] |
Products | vacation rentals, vacation rental property management, vacation rental real estate, lodging, vacation rental community management, vacation rental interior design |
Revenue | US$889 Million (2021) [7] |
Number of employees | 8,000 [8] |
Website | www.vacasa.com |
Vacasa is an international vacation rental management company based in Portland, Oregon. It provides property management services for over 35,000 vacation rentals [9] [10] [11] [12] [13] [14] in North America, Belize, and Costa Rica. [15] [16] Vacasa manages properties in 34 U.S. states. [17]
Eric Breon, along with attorney Cliff Johnson, co-founded Vacasa in 2009 after experiencing difficulties managing his family vacation home in Long Beach, Washington. [18]
In June 2014, Vacasa topped the Portland Business Journal 's list of Fastest-Growing Private 100 companies, with an established three-year growth rate of 3,034.59%. [19] In August 2014, it was named the #9 fastest-growing privately held company in the nation by Inc. Magazine in its annual Inc. 5000 list, with an updated three-year growth rate of 16,192%. [20] On November 16, 2016 Vacasa was ranked number 67 out of 500 on the 2016 Technology Fast 500 by Deloitte, which recognizes the fastest-growing technology companies in North America. [21]
In March 2018, Vacasa announced the company would be expanding its Portland office to a newly constructed building in the Pearl District. The 61,000 square foot space provides the company space for an additional 400 employees in Portland. [22] [23]
On October 2, 2018, Vacasa acquired Oasis Collections, which was previously owned in part by Hyatt Hotels Corp. [12]
In 2019, Vacasa acquired Wyndham Vacation Rentals from Wyndham Destinations for $162 million. [13] [24] Vacasa has also partnered with Google to integrate available rental properties into search results for traveling and lodging. [25] It is the first vacation rental management company to do so. [26]
Eric Breon stepped down as CEO of Vacasa on February 11, 2020. [27] Vacasa board member and former OpenTable CEO Matt Roberts replaced Breon as interim chief, and was then named permanent CEO in the summer of 2020.
On April 1, 2021, Vacasa finalized the acquisition of TurnKey Vacation Rentals, adding more than 6,000 U.S. properties to its portfolio, and bringing its total property count to more than 30,000 units. [28]
On August 24, 2022, Vacasa announced former Expedia executive Rob Greyber will succeed Matt Roberts as CEO. [29]
On April 12, 2016, Vacasa announced securing $35 million in financing led by Series A investor Level Equity. [30] [31] [32] On November 14, 2016 Vacasa announced extending the Series A round to $40 million following a $5 million investment from risk management provider Assurant. [33] This is the first round of outside capital the company accepted, as it was bootstrapped since its founding in 2009. [30] [34]
On October 17, 2017, Vacasa raised $103.5 million in Series B funding. [35] To date, this is the largest funding round ever raised in the vacation rental management sector, [36] and the largest series B funding round ever raised for an Oregon technology company. [37]
On October 18, 2018, Vacasa raised a Series B extension of $64 million, bringing the company's total funds raised to $207.5 million. [38] In 2018, Vacasa became the largest vacation rental management company in North America overtaking Wyndham Vacation Rentals. [39]
On October 29, 2019, Vacasa announced it had raised $319 million in Series C funding valuing the company at over $1 billion. [40]
On June 2, 2020, Vacasa announced it had raised $108 million in Series D [41] funding led by existing investor Silver Lake.
In July 2021, Vacasa announced that it would become a publicly-traded company through a merger with TPG Pace Solutions, a special purpose acquisition company (SPAC) sponsored by TPG Pace Group. The business combination provided Vacasa with an equity valuation of $4.5 billion. [42] Vacasa debuted on the NASDAQ with the completion of the merger on December 7.
The company developed the Vacasa Field App to provide its local operations teams with real-time information and updates on home maintenance tickets, as well as its HomeCare Hub, which includes a scheduler algorithm that optimises home clean scheduling across geographic regions. [5]
In November 2021, the company released its Vacasa Homeowner app to share home performance information with their homeowners in a native mobile experience. [43]
In July 2018, Vacasa launched Vacasa Real Estate to support buyers and sellers of vacation rentals through a national expert agent network. [44] [45] As Vacasa's real estate arm continued to expand, the company launched brokerages in Arizona, Florida, Hawaii, Oregon and South Carolina, with future plans to expand throughout the country. [46]
In 2018, the company launched Vacasa Community Association Management and Multifamily Services to round out its full suite of services for vacation homeowners. [47] [48]
In 2019, Vacasa launched an interior design service for property owners and developers. [49] [50]
Lattice Semiconductor Corporation is an American semiconductor company specializing in the design and manufacturing of low power field-programmable gate arrays (FPGAs). Headquartered in the Silicon Forest area of Hillsboro, Oregon, the company also has operations in Shanghai, Manila,Los Angeles and Singapore. Lattice Semiconductor has more than 700 employees and an annual revenue of more than $400 million as of 2019. Founded in 1983, the company went public in 1989 and is traded on the NASDAQ stock exchange under the symbol LSCC.
Radisys Corporation is an American technology company located in Hillsboro, Oregon, United States that makes technology used by telecommunications companies in mobile networks. Founded in 1987 in Oregon by former employees of Intel, the company went public in 1995. The company's products are used in mobile network applications such as small cell radio access networks, wireless core network elements, deep packet inspection and policy management equipment; conferencing, and media services including voice, video and data. In 2015, the first-quarter revenues of Radisys totaled $48.7 million, and approximately employed 700 people. Arun Bhikshesvaran is the company's chief executive officer.
FullContact Inc. is a privately held technology company that provides a suite of cloud-based software products for businesses, developers, and brands. Their main focus is Identity Resolution. Their suite of offerings include products like Enrich and Resolve, and nine solutions, including Customer Recognition and Media Amplification.
Travel + Leisure Co. is an American timeshare company headquartered in Orlando, Florida. It develops, sells, and manages timeshare properties under several vacation ownership clubs, including Club Wyndham and WorldMark by Wyndham, and provides timeshare exchange services, primarily through RCI.
Teledyne FLIR LLC, formerly FLIR Systems Inc,, a subsidiary of Teledyne Technologies, specializes in the design and production of thermal imaging cameras and sensors. Its main customers are governments and in 2020, approximately 31% of its revenues were from the federal government of the United States and its agencies.
Fishbowl is an Orem, Utah-based software company that develops and publishes inventory management software and related software.
HomeAway was a vacation rental marketplace. It operated through 50 websites in 23 languages through which it offered rentals of cabins, condos, castles, villas, barns, and farmhouses.
Payoneer Global Inc. is an American financial services company that provides online money transfer, digital payment services and provides customers with working capital.
Act-On Software is a software-as-a-service product for marketing automation. The company is headquartered in Portland, Oregon and was founded in 2008, originally retailing its software exclusively through Cisco, which provided $2 million in funding.
Brandlive is a Software as a service (SaaS) company based in Portland, Oregon, USA.
Qorvo is an American multinational company specializing in products for wireless, wired, and power markets. The company was created by the merger of TriQuint Semiconductor and RF Micro Devices, which was announced in 2014 and completed on January 1, 2015. It trades on Nasdaq under the ticker symbol QRVO. The headquarters for the company originally were in both Hillsboro, Oregon, and Greensboro, North Carolina, but in mid-2016 the company began referring to its North Carolina site as its exclusive headquarters.
Oregon Venture Fund makes venture investments in the Portland, Oregon area and throughout Oregon and SW Washington. The fund consists of 180 institutional and angel investors, of whom 85% have run or founded a business. The fund evaluates up to 300 business plans per year, selecting five to seven to invest in annually. In 2018, the fund changed its name from Oregon Angel Fund to Oregon Venture Fund and launched a new $30M fund. Since its inception, Oregon Venture Fund has generated an average annual rate of return of 34% and a return on investment exceeding $3.50 for each dollar invested.
Janrain, sometimes styled as JanRain, is a customer profile and identity management (CIAM) software provider based in Portland, Oregon, United States. It was established in 2002. Akamai acquired Janrain in January 2019.
OpenSesame Inc. is a Portland based educational technology company that provides an online marketplace for buying and selling SCORM e-learning courses focused primarily on employee training. Its online training platform, directly connects content providers with employees and businesses for online training resources and specially designed courses for professionals, which can be accessed through a Learning management system. The company was founded in 2011 and is headquartered in Portland, Oregon. As of January 2016, OpenSesame tracks around 20,000 courses from more than 300 vendors.
Scoro is a software-as-a-service solution for professional and creative services. The all-in-one business management software combines project management with time and team management, sales, billing, and professional services automation. The company has offices in London, New York, Tallinn, Riga, and Vilnius.
PacStar, part of Curtiss-Wright Corporation's Defense Solutions Division, is a developer and manufacturer of tactical communication and information technology infrastructure hardware and software based in Portland, Oregon. The company was founded in 2000 in Oregon as a reseller of advanced networking and communication equipment and in 2005 began manufacturing communications systems of its own design. The company has multi-million dollar deals with several branches of the US military and also supplies rugged networking equipment to commercial industries. The formerly privately held company was acquired by Curtiss-Wright in late 2020.
Smarsh is a "software as a service" (SaaS) company headquartered in Portland, Oregon, with nine offices worldwide. The company provides comprehensive archiving and has compliance, supervision and e-discovery solutions for companies in highly regulated industries, including public sector and financial services.
Compass, Inc. is an American licensed real estate broker that utilizes the Internet as a marketing medium with the use of real estate technology. Compass employs more than 25,000 agents who earn a percentage of the selling price and give a percentage of each commission to Compass, consistent with the traditional real estate brokerage business model. Compass specializes in high-margin, luxury homes in upscale markets. Founded in 2012, the company is headquartered in New York City. The company provides software to real estate agents. Compass is the first company to have built a proprietary mobile app for real estate agents.
Responsive is a privately owned developer of cloud-based software that automates and streamlines the process of responding to a request for proposal (RFP) based in Beaverton, Oregon. The company also maintains an office in Coimbatore, India. Founded in 2015, the company has expanded rapidly and now has more than 150,000 users worldwide after tripling its user base in 2019 and sustaining growth during the global pandemic. RFPIO software has supported more than $20 billion in RFP responses.
Elevate Capital (Elevate Capital LLC) is a privately owned venture capital firm based in Portland, Oregon, that focuses on early-stage investments in startup companies and particularly those companies led by women, minorities, and veterans. The firm manages the Elevate Capital Fund that invests in early-stage companies and the Elevate Inclusion Fund that invests in startups run by women and minority entrepreneurs.