17 Jul '13, 7am

HomeAway Buys Singapore Startup Travelmob To Enter Asia-Pacific

Nasdaq-listed vacation rental site HomeAway has acquired a Singapore-based startup Travelmob , allowing it to compete directly with Airbnb in the Asia-Pacific region. HomeAway announced today that it acquired a majority stake of 63 percent in Travelmob in an undisclosed, all-cash deal. For now, Travelmob’s team of 16 will continue to operate as an independent brand out of Singapore. HomeAway will also pump in $2 million in its new Travelmob arm to help grow its presence in the Asia-Pacific. This isn’t the first time the two are working together. HomeAway and Travelmob partnered in March to cross-list Travelmob’s 14,000 rentals in Asia on HomeAway’s site. That deal must have gone well enough for HomeAway to want to cement that relationship. HomeAway itself has 740,000 listings across 171 countries. Brian Sharples, chief executive officer of HomeAway said that the company is...

Full article: http://techcrunch.com/2013/07/17/homeaway-buys-singapore-...

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