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HomeAway.com Set to raise $230 million

HomeAway.com Set to raise $230 million

HomeAway, a vacation rental site, filed to sell as much as $230 million in shares on its initial public offering (IPO). The service currently offers over 230,000 vacation rentals to choose from. At $28 per month, or about $300 per year, to list a vacation rental property the numbers add up.

With increasing pressure from competitor AirBnb, HomeAway says it will use some of the money to acquire business and add product lines. Over it’s 6 year life, HomeAway has stayed very well funded. In 2005 they raised $500 million through Austin Ventures and another $200 million in 2008 from Redpoint, along with Palo Alto, California-based Technology Crossover Ventures and Institutional Venture Partners.

According to Bloomberb, This is one of the largest IPO’s for a venture backed firm in a long time.