HomeAway announces IPO

Vacation Rentals network HomeAway has announced its initial public offering with a total valuation set at $2 billion. The company will be releasing 8,000,000 shares of its common stock today with share prices at $27.


This is at the top end of their initial valuation but stock prices could go even higher as trading begins. The stock, which will be listed under the ticker symbol “AWAY” will be sold by both HomeAway and other selling stockholder.


The company hopes to raise up to $248 million in the offering, which is being underwritten by Morgan Stanley, Deutsche Bank, Goldman Sachs and J.P. Morgan. Last year alone, the company made $167.9 million in revenue, which is a 39.6% increase from 2009.


With the new IPO money HomeAway looks to be more attractive than many previous tech IPOs. Currently, the company has 31 websites in 11 languages and provides listings for vacation rentals located in over 145 countries. It has already raised close to half a billion dollars in venture capital and been valued at $1.4 billion.

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