Homeaway acquires travelmob to expand into Asia Pacific

HomeAway, Inc, an online marketplace for vacation rentals, has signed an agreement to acquire majority control of travelmob, an online start-up for vacation rental properties in Asia Pacific. The all-cash transaction is expected to close in a few weeks and following the closing, the travelmob management team will retain a 37 percent share of the business and continue to operate as an independent brand from its Singapore headquarters.

Founded by Turochas ‘T’ Fuad and Prashant Kirtane in 2012, travelmob went on to raise a funding round from Jungle Ventures and Accel Partners recently and is a 16 member team. HomeAway has a previous relationship with travelmob through a distribution partnership announced in March of this year. Built on a transaction-based model, travelmob features over 14,000 Asia Pacific short-term rental listings including luxury villas, urban apartments, houseboats, a private island and even some shared spaces.

Since April 2011, HomeAway has steadily invested in its Asia Pacific presence beginning with the purchase of the holiday rental business from REA Group Limited and the subsequent launch of HomeAway.com.au. Last year, HomeAway made a minority investment in China-based vacation rental company, Tujia.com, in partnership with Ctrip.com International. The company also has distribution partnerships with Wego and Tripvillas.

Website: travelmob