wordpress blog stats
Connect with us

Hi, what are you looking for?

HomeAway Buys Vacation Rental Startup TravelMob

homeaway-travelmob

Online vacation rental marketplace HomeAway is buying a majority stake in travelmob, a Singapore based start-up for vacation rental properties, and with it, a presence in India.

Following the all-cash transaction, travelmob management team will retain a 37 percent share of the business and continue to operate independently. HomeAway will invest about $2.0 million to grow the travelmob business. Travelmob was a distribution partner for HomeAway – a partnership which was announced in March this year – and it featured 14,000 Asia Pacific short-term rental listings including luxury villas, urban apartments, houseboats, a private island and even some shared spaces. We checked, and Travelmob has listings for India (735 for Delhi, 278 for Mumbai, 392 for Bangalore), but strangely doesn’t accept INR as a currency. Travelmob was co-founded in 2012 by Turochas Fuad and Prashant Kirtane, and had a team size of 16 people. Investors in the business include Jungle Ventures, Accel Partners and private investors, including Dan Neary, Vice President of Asia Pacific at Facebook. HomeAway claims 742,000 paid listings of vacation rental homes in 171 countries. It also operates Bedandbreakfast.com.

It’s worth noting that HomeAway also has a partnership in India with Tripvillas, a company that had raised over $1 million from Neoteny Labs, Blume Ventures, MENA Venture Investments and other Angel Investors in March 2012. In India, Tripvillas has offices in Gurgaon and Mumbai, and as of May 3rd 2013, it had 2336 listings for India). We wonder how this deal might play out, when it comes to the Indian part of the business – would HomeAway look to build travelmob in India, or continue with Tripvillas, which is its competitor.

Other companies operating in this space include Oravel, which raised seed funding last year. AirBNB also operates in India through its partnership with Springstar, of which Harish Bahl’s Smile group is a part-owner.

Advertisement. Scroll to continue reading.
Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ