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Vacasa, a vacation rental co. with Boise ties goes public with millions in gross proceeds

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BoiseDev reported several months ago that Vacasa, the vacation rental company, was planning to go public. Now, it officially has.

Starting today, Vacasa is a common stock, ready to trade on the Nasdaq Global Select Market under ‘VCSA.’ 

“The closing of our Business Combination and imminent public listing marks another important milestone not only for Vacasa and its employees, but our homeowners, guests, channel partners, and the broader vacation rental industry,” Vacasa Matt Roberts said in a statement.

Roberts continued saying over $340 million of gross proceeds would help speed up growth.

“Funds from the over $340 million of gross proceeds provided by the transaction will enable us to help accelerate our execution on our long-term business plan of further enhancing our technology capabilities and products, adding more homes to our platform, and improving the vacation rental experience for all stakeholders,” he said.

The move comes after a merger with a special acquisition company, TPG Pace Solutions. BoiseDev reported the deal would value Vacasa at around $4.5 billion. 

“TPG Pace Solutions was attracted to Vacasa for its proven, scaled business model, favorable secular tailwinds, and experienced leadership team. The Vacasa team has executed exceptionally well, with its previously updated full-year 2021 revenue guidance more than $100 million higher than the initial revenue target provided when we announced the proposed transaction in July,” Chairman of TPG Pace Solutions Karl Peterson said in a statement.

[Vacasa, a vacation rental co. with Boise roots, aims to go public in $4.5 billion deal]

Barbara Messing, the current Chief Marketing and People Experience Officer at Roblox and board member of Overstock, will join the Vacasa Board of Directors. Along with Peterson, a Senior Partner of TPG, Managing Partner, founder and of TPG Pace Group, and Co-Founder of Hotwire.com.

Vacasa is based in Portland and has over 35,000 vacation rentals. It also has strong connections to Boise. Eric Breon, a Boise native, founded the firm but left last year. The vacation rental company also employs many people in the Boise area.

Autum Robertson - BoiseDev Reporter
Autum Robertson - BoiseDev Reporter
Autum Robertson is a BoiseDev reporter focused on Meridian and McCall. Contact her at [email protected].

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