Vacation rental marketplace HomeAway Inc. says it’s signed an agreement to acquire a majority stake in travelmob, and will spend $2 million this year to grow the startup for Asia-Pacific vacation rental properties. The travelmob management team will retain a 37 percent share of the business and continue to operate the company from its headquarters in Singapore as an independent brand, the companies said.
Last year, HomeAway took a minority stake in China-based vacation rental company Tujia.com, and has distribution partnerships with Wego.com and Tripvillas.com. HomeAway says it opened a sales office in Bangkok, Thailand, in April “to serve the growing inventory of private villas offered to the public as vacation rentals.”
Co-founded in 2012 by Chief Executive Officer Turochas Fuad and Chief Technology Officer Prashant Kirtane, travelmob claims more than 14,000 Asia-Pacific short-term rental listings. Early investors in the company include Jungle Ventures, Accel Partners, and private investors including Dan Neary, vice president of Asia-Pacific at Facebook. Source: homeaway.com.