Backed by a group of well-known VCs that includes Austin and Redpoint Ventures, HomeAway operates the world's leading online marketplace for vacation rentals of privately owned homes, condos, villas and cabins. Travelers use HomeAway's sites free of charge to locate, compare and select rentals using its online search tools, content and availability calendars, while property owners can access millions of travelers for a fixed annual fee (typically $300 per listing).
HomeAway plans to raise $204 million by offering 8 million shares (26% insider) at a price range of $24 to $27. At the midpoint of the proposed range, the company will command a market value of $2.2 billion. HomeAway plans to list on the NASDAQ under the symbol AWAY. Morgan Stanley, Deutsche Bank Securities, Goldman, Sachs & Co. and J.P. Morgan are the lead managers on the deal, which is expected to price on Tuesday, June 28.
Read more about HomeAway's business, risks and outlook.
