Austin-based HomeAway sold for $3.9 billion dollars to Expedia today. It’s a big number but it might surprise you know that AirBnB is valued about six-times that but suffice it to say, the vacation rental space is booming.
“We have long had our eyes on the fast-growing $100 billion alternative accommodations space and have been building on our partnership with HomeAway, a global leader in vacation rentals, for two years,” Expedia chief executive Dara Khosrowshahi said in a prepared statement. “Bringing HomeAway into the Expedia, Inc. family and adding its leading brands to our portfolio of the most trusted brands in travel is a logical next step.” (Source – VentureBeat)
This sale is also a huge win for Austin as well as it is likely to mint some new millionaires, entrepreneurs that will help continue to grow and build Austin’s startup community.
I actually didn’t know that HomeAway was headquartered in Austin until I moved here and learned that the headquarters was three blocks from our place. I had a chance to meet some great people from HomeAway during my time at Techstars and it’s definitely a company that has helped to put Austin on the map along with companies like BazaarVoice, Spredfast, WPEngine and many more.
Huge congrats to the HomeAway team, something tells me there will be some serious celebrations in Austin this weekend!