Taken private by rival Casago for ~$130M ($5.30/share), completed May 2025; delisted from Nasdaq.
The rise & fall
7 moments · 2009–2025
The key moments, with employee sentiment along the way.
2009
🌱
2009
Founded in Portland
Eric Breon starts managing vacation homes full-service, one Oregon getaway at a time.
Wikipedia
2019
🦄
2019
Joins the unicorn club
A Silver Lake-led round values North America's largest vacation-rental manager above $1B.
TechCrunch
Dec 2021
📈
Dec 2021
The peak: SPAC debut at $4.5B$4.5B
Goes public by merging with TPG Pace Solutions at the top of the SPAC wave.
Skift
2022–24
2022–24
Bookings soften, layoffs repeat
The tech-driven model never reaches profitability; staff cuts come in multiple rounds as the stock slides about 97%.
Skift
2022
💔
2022
Slips out of the club
Within months of the SPAC debut, Vacasa's market value sinks below $1B.
Macrotrends
2022–24
💬
From the inside · Glassdoor reviews, 2022–24
Glassdoor reviews marked the SPAC era as the turning point: employees described the founder-era culture fading through repeated layoff rounds delivered over mass video calls with cameras off, thin severance, and frozen raises for those who stayed.
May 2025
🤝
May 2025
Acquired by Casago for ~$130M$130M
Smaller rival Casago takes it private at $5.30 a share — about 3% of the SPAC valuation — and the Nasdaq listing ends.
Skift
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
Vacasa was the largest full-service vacation-rental management company in North America, serving tens of thousands of homeowners. It went public in December 2021 via a SPAC merger with TPG Pace Solutions at a $4.5B equity valuation.
The tech-driven model never reached profitability; bookings softened, the company cut staff in multiple rounds, and the stock fell about 97%. In May 2025 Vacasa was taken private by smaller rival Casago in an all-cash deal worth roughly $130M and delisted from Nasdaq.
Source: Skift / Wikipedia / Short Term Rentalz ($4.5B equity valuation via TPG Pace Solutions SPAC, Dec 2021; stock -97%, multiple layoffs; Casago all-cash take-private ~$130M, closed May 1 2025)
