Wednesday, July 17, 2013

HomeAway Buys Asian Vacation Rental Startup Travelmob

Austin-based HomeAway is expanding its presence in the Asia-Pacific market today, through the acquisition of an Asian vacation rental startup called travelmob. HomeAway did not disclose financial terms of the all-cash deal, but did say that travelmob's management team will retain a 37 percent share of the company's business. travelmob is based in Singapore, where it will continue to operate. HomeAway said that travelmob has over 14,000 Asia Pacific short term rental lists, and was co-founded by Turochas Fuad and Prashant Kirtane. travelmob has 16 employees, and was venture backed by Jungle Ventures, Accel Partners, as well as private investors, including Dan Neary, the vice president of Asia Pacific at Facebook.