Industry News

HomeAway scores $160 million in financing

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HomeAway Inc. has secured a record $160 million in debt and equity financing to fund the vacation-rental Web portal's continued expansion, the company announced today. Expansion plans include the acquisition of Vacation Rentals by Owner,, one of the largest vacation-rental Web sites in the United States. The company said it also plans to boost marketing efforts to grow traffic and continue developing technology for locating and renting homes online. will continue to operate as an independent brand run by the existing management team. HomeAway owns vacation-rental Web sites where people planning vacations can find houses to rent. The company's growth highlights the growing trend of people buying second homes throughout the world. Existing investors Austin Ventures and Redpoint Ventures and new investors American Capital, Institutional Venture Partners and Trident Capital provided the financing. Founded in February 2005, HomeAway has raised more than $200 million in c...