Vacation home rental service HomeAway has just submitted its S-1 filing with the SEC, indicating that it will file for a public offering in the next few months. The maximum proposed total offering price is $230 million but this could be just a placeholder amount.
HomeAway has raised close to a half a billion dollars in venture funding, and in its most recent investment round was valued at $1.4 billion. HomeAway, which has been eying an IPO, currently offers home rentals through 31 websites in 11 languages and provided listings for vacation rentals located in over 145 countries. In 2010, its sites averaged over 9.5 million unique monthly visitors.
According to the filing, HomeAway saw $167.9 million in 2010 revenue, which is up 39.6% from 2009. In 2010, 37.9% of the company’s revenue came from outside the United States, including 36.6% from Europe and 1.3% from Latin America. In 2010, rental listings contributed 91.1% of HomeAway’s revenue. Net Income for 2010 came in at $16.9 million, up from $7.6 million in 2009. And the company says there is plenty of room for growth—the vacation rental market is valued at $85 billion in 2010 in the United States and Europe.
With the new capital, HomeAway says that it will expand further, via organic growth and acquisitions in select market. Already, the company has had an aggressive acquisition strategy , most recently buying vacation rental management software company Instant Software.