HomeAway
Encyclopedia
HomeAway, Inc. is an online vacation rental
marketplace. HomeAway connects homeowners and property managers who advertise (or list) their properties available for rent with travelers
who choose these alternative accommodations instead of hotels
.
HomeAway was funded by venture capital
firms Austin Ventures
, Institutional Venture Partners
, Redpoint Ventures
, Technology Crossover Ventures and Trident Capital. The company is headquartered in Austin, Texas with additional offices in Colorado, Virginia, New York, England, Germany, Brazil and France.
The acquisitions that HomeAway has made include:
HomeAway moved into its new global headquarters in Austin, Texas on October 2, 2009; the first mixed-use project and the second company in Austin to achieve LEED
Gold certification for Commercial Interior Design.
On November 18, 2009, Us Weekly
announced that HomeAway would reunite actors Chevy Chase
and Beverly D’Angelo in a new short film and advertising campaign based on National Lampoon’s Vacation. The HomeAway ad represents the company’s first national advertising campaign that debuted during the CBS television network broadcast of Super Bowl XLIV on February 7, 2010.
. In 2010 the Wall Street Journal named HomeAway one of the top 10 venture funded companies.
In March 2011, HomeAway filed with the SEC to raise up to $230 million in an initial public offering.
The company opened for trading on the NASDAQ on June 29, 2011 after raising $216 million in an IPO.
announced its entrance into the vacation rental marketplace. The following day after the Orbitz announcement, Expedia’s TripAdvisor
Web site took a majority stake in FlipKey, a website that features vacation rental properties and verified guest reviews.
Craigslist also lists vacation rental properties. Other lodging alternatives to hotels include Homelink.org and HomeExchange.com that offer home swaps, BeWelcome.org, Couchsurfing.org and HospitalityClub.org, Airbnb.com and Wimdu.com which offer rooms or space in homes to travelers, Hosteling International which offers dorm-style accommodations.
Vacation rental
Vacation rental is the renting out of a furnished apartment or house on a temporary basis to tourists as an alternative to a hotel. The term vacation rental is mainly used in the US. In Europe the term villa rental or villa holiday is preferred for rentals of detached houses in warm climates...
marketplace. HomeAway connects homeowners and property managers who advertise (or list) their properties available for rent with travelers
Travel
Travel is the movement of people or objects between relatively distant geographical locations. 'Travel' can also include relatively short stays between successive movements.-Etymology:...
who choose these alternative accommodations instead of hotels
Hotel
A hotel is an establishment that provides paid lodging on a short-term basis. The provision of basic accommodation, in times past, consisting only of a room with a bed, a cupboard, a small table and a washstand has largely been replaced by rooms with modern facilities, including en-suite bathrooms...
.
HomeAway was funded by venture capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
firms Austin Ventures
Austin Ventures
Austin Ventures is a private equity firm focused on venture capital and growth equity investments in business services and supply chain, financial services, new media, Internet, and information services companies nationally with a focus on Texas. The firm, which is based in Austin, Texas, was...
, Institutional Venture Partners
Institutional Venture Partners
Institutional Venture Partners is a US based private equity investment firm focusing on later-stage venture capital and growth equity investments. IVP is one of the oldest venture capital firms on Sand Hill Road founded by Reid W...
, Redpoint Ventures
Redpoint Ventures
Redpoint Ventures is a prominent venture capital firm focused on investments in early stage technology companies. The firm's partners include Allen Beasley, Jeff Brody, Satish Dharmaraj, Tom Dyal, Tim Haley, Brad Jones, Nety Krishna, Chris Moore, Lars Pedersen, Scott Raney, John Walecka, Geoff...
, Technology Crossover Ventures and Trident Capital. The company is headquartered in Austin, Texas with additional offices in Colorado, Virginia, New York, England, Germany, Brazil and France.
History
HomeAway, Inc was founded in February 2005. The company initially acquired several sites and consolidated them into a single vacation marketplace, launching HomeAway.com in June 2006. Travelers can search HomeAway.com to find a vacation rental for free and homeowners can pay to advertise their property.The acquisitions that HomeAway has made include:
| Date | Acquisition | Location |
|---|---|---|
| 2005 | CyberRentals.com | U.S. |
| 2005 | GreatRentals.com | U.S. |
| 2005 | A1Vacations.com | U.S. |
| 2005 | TripHomes.com | U.S. |
| 2005 | Holiday-Rentals.co.uk | United Kingdom |
| 2005 | FeWo-direkt.de | Germany |
| 2006 | VRBO.com | U.S. |
| 2007 | Arbritel.fr | France |
| 2007 | VacationRentals.com | U.S. |
| 2007 | OwnersDirect.co.uk | United Kingdom |
| 2009 | Homelidays.com | France |
| 2010 | BedandBreakfast.com | U.S. |
| 2010 | AlugueTemporada.com.br | Brazil |
HomeAway moved into its new global headquarters in Austin, Texas on October 2, 2009; the first mixed-use project and the second company in Austin to achieve LEED
Leadership in Energy and Environmental Design
Leadership in Energy and Environmental Design consists of a suite of rating systems for the design, construction and operation of high performance green buildings, homes and neighborhoods....
Gold certification for Commercial Interior Design.
On November 18, 2009, Us Weekly
Us Weekly
Us Weekly is a celebrity gossip magazine, founded in 1977 by The New York Times Company, who sold it in 1980. It was acquired by Wenner Media in 1986. The publication covers topics ranging from celebrity relationships to the latest trends in fashion, beauty, and entertainment...
announced that HomeAway would reunite actors Chevy Chase
Chevy Chase
Cornelius Crane "Chevy" Chase is an American comedian, writer, and television and film actor, born into a prominent entertainment industry family. Chase worked a plethora of odd jobs before moving into comedy acting with National Lampoon...
and Beverly D’Angelo in a new short film and advertising campaign based on National Lampoon’s Vacation. The HomeAway ad represents the company’s first national advertising campaign that debuted during the CBS television network broadcast of Super Bowl XLIV on February 7, 2010.
Financing
HomeAway announced in November 2006 its $160 million in financing to fund global expansion initiatives, including the acquisition of VRBO.com (Vacation Rentals by Owner). On November 11, 2008, HomeAway announced it had completed an additional $250 million equity capital raise. The investment was led by Technology Crossover Ventures (TCV) and with existing investors Institutional Venture Partners (IVP) and Redpoint VenturesRedpoint Ventures
Redpoint Ventures is a prominent venture capital firm focused on investments in early stage technology companies. The firm's partners include Allen Beasley, Jeff Brody, Satish Dharmaraj, Tom Dyal, Tim Haley, Brad Jones, Nety Krishna, Chris Moore, Lars Pedersen, Scott Raney, John Walecka, Geoff...
. In 2010 the Wall Street Journal named HomeAway one of the top 10 venture funded companies.
In March 2011, HomeAway filed with the SEC to raise up to $230 million in an initial public offering.
The company opened for trading on the NASDAQ on June 29, 2011 after raising $216 million in an IPO.
Competitive environment
On August 19, 2008, OrbitzOrbitz
Orbitz Worldwide, Inc. is an Internet travel company headquartered in the Citigroup Center in Near West Side, Chicago, Illinois. Through its primary web site Orbitz.com, Orbitz Worldwide enables travelers to research, plan and book a broad range of travel products, facilitating 1.5 million flight...
announced its entrance into the vacation rental marketplace. The following day after the Orbitz announcement, Expedia’s TripAdvisor
TripAdvisor
TripAdvisor.com is a travel website that assists customers in gathering travel information, posting reviews and opinions of travel-related content and engaging in interactive travel forums. It is part of the TripAdvisor Media Group, operated by Expedia, Inc. TripAdvisor is a pioneer of...
Web site took a majority stake in FlipKey, a website that features vacation rental properties and verified guest reviews.
Craigslist also lists vacation rental properties. Other lodging alternatives to hotels include Homelink.org and HomeExchange.com that offer home swaps, BeWelcome.org, Couchsurfing.org and HospitalityClub.org, Airbnb.com and Wimdu.com which offer rooms or space in homes to travelers, Hosteling International which offers dorm-style accommodations.