Google Ventures Invests In Vacation Rental Website HomeAway
The investment arm of Google, Google Ventures, has invested in HomeAway.com. HomeAway is a vacation rentals website. Google Ventures bought shares in HomeAway from existing shareholders. This round of funding is at about $25 million. HomeAway has already raised $410 million thus far.
HomeAway consolidates vacation data from similar websites. HomeAway operates their services in the U.S., 11 countries in Europe, and Brazil. HomeAway has about 540,000 rental properties across 120 countries in their database.
To list a property for a year, HomeAway charges $300 per year. On average, renters have been earning $20,000 in rental income annually. Solid return there.
“Moving forward, with the help of Google, the company will focus its attention on further technological development, among other things, to optimise its websites and simplify the booking process,” said HomeAway in a statement. HomeAway’s turnover has grown 45% to $120 million in 2009. HomeAway plans to expand in Asia and Australia in the near future.@amitchowdhry or on Google+ at +AmitChowdhry