WSOG LLC, also known as World Series of Golf Inc., on Jan. 3 said it has acquired a shared economy technology business that has a $10 million real estate backed asset that will allow people to become vacation property owners.
The Las Vegas-based sports entertainment company said the acquisition has been running for over two years. The acquired business recently took on the name Vaycaychella in anticipation of the transaction.
Financial terms of the transaction were not disclosed.
According to the release, Vaycaychella has already financed its acquisition of about $10 million worth of vacation properties through its unique vacation property lending approach. The business will digitize its lending approach into a mobile device app, which will be available worldwide for the acquisition of properties across the globe.
The Vaycaychella app will allow users to own vacation properties and subsequently earn income from vacation renters through applications like Airbnb Inc. and Bookings.com.