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HOMEAWAY0616.mp4
HomeAway announced Thursday it could raise as much as $250 million, valuing the home rental website around $2 billion. HomeAway’s price offering at the moment is between $24 to $27 a share.The home rental website, launched in 2005, specializes in vacation rentals. The website allows users to connect directly with owners and managers for properties that they are interested in throughout 145 countries. 9.5 million viewers visit HomeAway monthly, with more than 560,000 paid listings.Homeaway, like many young Internet companies, is still unprofitable. Revenues were over $167 million in 2010, but the company also lost $18.2 million. Losses have narrowed however, and the average revenue per listing increased from $266 in 2008 to $318.After initial offerings, entities associated with Austin Ventures will own 22.4%. Austin Ventures is a Texas-based venture capital firm. Redpoint Ventures will own 17.8%; Technology Crossover Ventures 14.1%; Institution Venture Partners will own 8.2%; and Tiget Global Management will own 5.6%. The co-founder and chief executive of HomeAway will hold 2.8%.
Video Length: 0
Date Found: June 20, 2011
Date Produced: June 20, 2011
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