US-based holiday rental company HomeAway is preparing to float by June just months after reportedly receiving about $25m from Google Ventures, the corporate venturing division of search engine company Google.
Newswire Bloomberg said HomeAway’s flotation would be for up to $300m and managed by investment banks Morgan Stanley, Deutsche Bank, JPMorgan Chase and Goldman Sachs.
In November, Google acquired its stock in HomeAway, which uses characters from National Lampoon films (see picture) in its advertising, from its existing shareholders rather than as a primary placement, according to news provider New York Times, while website TechCrunch said the investment was about $25m at a $1.4bn valuation.
The company’s regulatory filings said $11.25m of equity was sold in October and in March and in total the company has raised $504m since launch.
Bloomberg said HomeAway had collected about $500m since its founding in 2005 from venture capital firms Austin Ventures, Redpoint Ventures, Institutional Venture Partners, Technology Crossover Venture and Trident Capital as well as Google Ventures.