Pacaso Hires Razor Suleman as President of Pacaso International and Embarks on Robust Expansion; Appoints Malissia Clinton to Board of Directors

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Jun 29, 2021, 09:00 ET

SAN FRANCISCO, June 29, 2021 /PRNewswire/ -- Pacaso, the service that helps people buy and co-own luxury second homes, today announced that Razor Suleman has joined the company as the President of Pacaso International. In this new role, Suleman will oversee the company's international expansion. Pacaso currently operates in 20 second home destinations across the United States. Over the next year, Pacaso plans to expand its services to Europe, Mexico and Canada.

In 2017, Suleman co-founded the Canadian-based not-for-profit Elevate with Toronto Mayor John Tory. Elevate's annual tech festival has included global icons such as Michelle Obama, Al Gore and Martha Stewart. Earlier in his career, Suleman was founder and CEO of Achievers, a corporate social network focused on employee engagement backed by Sequoia Capital. Achievers was acquired in 2015 for $110 million and is currently owned by Silver Lake Partners. Suleman graduated from Wilfrid Laurier University's School of Business and MIT's Entrepreneurial Mastery Program.

"Razor is an incredible force in the business world," said Pacaso CEO and Co-founder Austin Allison. "From the amazing work that he's done with Elevate to the impressive array of companies that he's launched like Achievers, which he grew from a simple idea into a global leader across 110 countries, his ingenuity shines." Added Allison: "When we started planning our international expansion, we knew we needed someone who isn't afraid to think big and who has innovation written into their DNA. That's Razor in a nutshell."

"I'm incredibly excited about Pacaso's mission, which is to enrich lives by making second home ownership possible and enjoyable for more people," said Suleman. "I'm grateful to Austin, Pacaso Co-founder and Chair Spencer Rascoff and the Pacaso Board for trusting me to grow Pacaso into a globally recognized brand."

Pacaso Appoints Malissia Clinton to Board of Directors
Today Pacaso also announced the appointment of Malissia Clinton to the company's board of directors. Clinton has considerable board experience and over 25 years of practice across multiple industries, including defense, aerospace, intelligence, advanced technologies and health care. Clinton is Senior Vice President, General Counsel and Secretary at Los Angeles-based The Aerospace Corporation, the preeminent Department of Defense advisor for the space enterprise. At Aerospace, Clinton serves as a strategic partner to the C-Suite on a broad range of transactional and governance issues.

"We are thrilled to announce Malissia to our board of directors," said Allison. "As a highly respected and seasoned executive, Malissia brings important legal and regulatory experience to this role. We look forward to her important contributions and are so fortunate to have her on our board."

"When I learned about Pacaso and this particular opportunity, I was struck by what interesting and timely solutions they are creating, and how the company is innovating across several sectors including real estate, travel and technology," said Clinton. "I look forward to working alongside the other board members and bringing my unique experience and perspective to the table."

Since Pacaso's launch in October 2020, more than 1.5 million people have visited the Pacaso website. As of March 2021, Pacaso has raised $90 million in equity financing and achieved a valuation of $1 billion, making it the fastest U.S. based company to reach unicorn status (i).

To learn more about employment opportunities, please visit Pacaso's careers page.

About Pacaso
Pacaso™ (pronounced like "Picasso") modernizes the decades-old practice of co-ownership by creating a marketplace that makes buying, owning and selling a second home easy. We curate the best listings in top second home markets, offer integrated financing, provide upscale interior design and furnishings, professionally manage and maintain the home, and create technology that simplifies scheduling stays. After purchase, Pacaso acts as the home manager and supports a frictionless resale process in partnership with a licensed real estate professional. For more information, visit www.pacaso.com or download the Pacaso app for Android or iOS.

Pacaso was founded by former Zillow executives Austin Allison and Spencer Rascoff.

(i): Source: Internal company analysis of Crunchbase and PitchBook data comparing unicorn status timelines based on company launch dates.

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