Vacasa
- 🦄Became a unicorn2019
- 📈Peak valuation$4.5 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation~$135M
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%. Glassdoor reviews described the going-public period as a turning point, the founder-era culture fading amid repeated layoff rounds delivered over mass video calls with cameras off, thin severance, and frozen raises for those who stayed. In May 2025 Vacasa was taken private by smaller rival Casago in an all-cash deal worth roughly $130M and delisted from Nasdaq.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
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)
