Wednesday, June 29, 2011

HomeAway Jumps In IPO

Austin-based HomeAway was up over 54 percent in its IPO in morning trading Wednesday, trading as high as $40.98 after debuting this morning at $27.00 per share. The firm, which is now trading as AWAY on the NASDAQ Global Select market, already had priced on the high of its estimated trading range. HomeAway provides an online marketplace for vacation rentals. The robust reception for the IPO is a huge win for HomeAway's backers, which include Austin Ventures, Redpoint Ventures, Technology Crossover Ventures, Institutional Venture Partners, and Tiger Global Management.