US-based holiday home booking service HomeAway is set to begin making corporate venturing investments, TechCrunch reported on Thursday.
Founded in 2005, HomeAway went public in a $216m flotation in 2011. Co-founder and CEO Brian Sharples told TechCrunch that the company had acquired about 20 small businesses, mostly to gain traction in international markets, but is now seeking to help establish an ecosystem that can upgrade the online rental process.
“We’re very actively looking at [investing],” Sharples said. “Historically we have either bought companies outright or bought a joint position.”
HomeAway is preparing to make its first venture capital investment, and though the target company for now remains undisclosed, it provides tax services for holiday home owners who list on HomeAway’s platform.