Tech CEO lists Malibu pad for $35M, twice what he paid

Another ultra-luxury Malibu home has hit the market, this one for $35 million, more than twice what the owner paid.

Records show the owner is Tom Villante, head of YapStone, a mobile payment processing firm for property managers and vacation rental platforms.

Designed by architect Doug Burdge and called Casa di Pietro, the beachside home is 5,300 square feet and includes 2.75 acres. It last sold for $14.7 million in 2013.

Chris Cortazzo of Compass holds the listing.

The property hits the market at a time when Los Angeles area agents have begun showing homes again following a recent relaxing of coronavirus-related safety protocols.

A Tadao Ando-designed home in Malibu hit the market two weeks ago for $75 million, and another nearby property listed earlier this week for $42 million.

Villante founded Walnut Creek-based YapStone in 1999, so named for currency stones used on the island of Yap in Micronesia. Some of its clients have included rental platforms like HomeAway, RentPath, and VRBO. Crunchbase reported the company had a total of $186 million in venture capital funding, including a $71 million round in 2018. In August, YapStone laid off 66 employees.

Messages left with Villante were not returned.