US-based holiday rental company HomeAway is preparing to raised $230m in its flotation just months after reportedly receiving about $25m from Google Ventures, the corporate venturing division of search engine company Google.
HomeAway’s flotation will be managed by investment banks Morgan Stanley, Deutsche Bank, JPMorgan Chase and Goldman Sachs, according to its regulatory filing.
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 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 (24.4% pre-IPO stake), Redpoint Ventures (19.4%), Technology Crossover Ventures (15.2%), Institutional Venture Partners (8.9%) and Tiger Global Management (6.1%) as well as Google Ventures.