AAA HomeAway in $18m Spanish trip with Toprural

HomeAway in $18m Spanish trip with Toprural

US-listed HomeAway, which was backed before its flotation last year by search engine Google, has acquired Spanish vacation site TopRural for €14m ($18m), according to a filing on Tuesday. 

 HomeAway raised $216m in its initial public offering (IPO) last year.

Google was reported by news provider TechCrunch to have invested in HomeAway at an about $1.4bn valuation to take a circa $25m stake. TechCrunch said Google had not invested money in the company, but it instead bought the shares from another backer.

Unlike other backers, US-based venture capital firms Austin Ventures, Redpoint Ventures, Technology Crossover Ventures, Institutional Venture Partners and Trident Capital, Google owned less than 5% of the company at IPO.

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