Meta’s head of M&A leaves role to join real estate startup Pacaso as COO – TechCrunch

Lara Cumberland will leave her role as head of M&A at Meta (formerly Facebook) to join proptech unicorn Pacaso as COO.

Cumberland first joined Meta in February 2015, most recently serving as the company’s vice president of integration of mergers and acquisitions and strategic initiatives. During his time at the social media giant, he oversaw the integration of all of its global acquisitions.

Before joining Meta, Cumberland also worked at eBay, PayPal, and IBM.

Former Zillow executives Austin Allison and (CEO and co-founder) Spencer Rascoff proposed the concept of Pacaso – a real estate platform that aims to help people buy and co-own a luxury vacation home, after leaving Zillow together in 2019.

They founded the startup in 2020, launched later that year, raised $75 million at a valuation of $1 billion in March 2021 and then another $125 million in September at a valuation of $1.5 billion.

In February, the company told TechCrunch that it generated almost $300 million in revenue for the full year of 2021 and that in its first year of operation it sold around 400 units.

With a co-ownership model made possible by creating a property-specific LLC, the company aims to reduce the cost and hassle of owning a second home. It also offers vacation home owners an alternative option to renting out their property. The company had 120 employees as of last September.

Cumberland said he decided to leave his Meta position because he believed that Pacaso “He’s at a really exciting place in his career.”

“I saw a rare opportunity to bring my varied experience and passions to the table,” he added.

Cumberland also noted that in his previous roles, he had focused on global integrations and executing various cross-company initiatives to support a company’s long-term growth and success.

“My background in technology, coupled with my history of leading, scaling and integrating teams, positions me well to guide Pacaso, along with Austin and top-tier business leaders, through this exciting next phase,” he told TechCrunch.

Image credits: COO Lara Cumberland / Pacaso

Cumberland joins a number of other high-profile Meta executives who have left the company over the past year since the company announced that transition your corporate brand and organization around a “metaverse” future.

In late November 2021, former Messenger boss and current crypto czar David Marcus Announced He left at the end of the year. Then, in December, the head of Meta’s Messenger division, Stan Chudnovsky, announced in a Facebook post he would leave the goal “Sometime in the second quarter of next year.”

Other executive departures include the head of Facebook app Fidji Simo, now CEO of Instacart; former director of Facebook Marketplace, Deborah Liu, now CEO of Ancestry.com; former director of revenue david fisher; co-founder of the Novi division kevin weill; Virtual Reality Executive Hugo Barra; Veteran of 10 years and former Head of Ads Carolyn Everson (who supposedly got tired of running interference for Facebook during their controversies); 13 year veteran and Technical Director Mike Schroepfer; and recently, both david marcus and head of Facebook Workplace, Julien Codorniou.

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