HomeAway offering raises $195.3M

Dec 18, 2013
Austin Business Journal

Vacation home rental lister HomeAway Inc. reported Tuesday raising $195.3 million with its follow-on stock offering


The Austin-based company sold 6.9 million shares of its common stock for $37 per share. It plans to use the net proceeds of this offering for general corporate purposes, which may include acquisitions or license of, or investment in, products, services, technologies or other businesses, according to a company news release


HomeAway (Nasdaq: AWAY) operates websites listing vacation home rentals. It employs about 1,443 workers, with 754 based in Austin


Acquisitions are nothing new for the company. HomeAway has been busy buying other vacation home listing companies at a regular basis since it launched in 2005. Earlier this month, it acquired Australia-based Stayz Group, a division of Fairfax Media Ltd., for $198 million. The deal is expected to add 33,000 Australian-based properties to the HomeAway network


In a November deal expected to add tens of thousands additional listings to HomeAway’s inventory, the company disclosed an agreement to partner with Switzerland-based Interhome AG. It also bought an ownership stake in New Zealand-based Bookabach Ltd. for an undisclosed amount


Last month, HomeAway posted a third-quarter profit of $8.3 million on revenue of $90.1 million compared with a profit of $5.1 million on revenue of $73.1 million during the same period a year earlier


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