HomeAway executes IPO and iStopOver finds room to acquire Vacapedia
iStopOver, the Toronto-based accommodations provider which competes with AirBnb and others, acquired the assets and global inventory of Vacapedia in a cash and stock deal for an undisclosed sum.
Heaquartered in Campbell, Calif., Vacapedia will add some 65,000 rooms to iStopOver’s inventory, bringing the combined portfolio to some 80,000 properties in more than 16,000 cities around the world, according to iStopOver.
The Vacapedia CEO, Ashwin Kedia, will become an iStopOver advisor.
As with AirBnB, iStopOver hosts rent out rooms in vacation properties, condos, living rooms and houseboats, and iStopOver provides the marketplace for prospective guests and hosts to interact.
It’s been a busy few months for iStopOver, which merged with PlanetEye in the fall of 2010.
The vacation and room-rental market is hot, with HomeAway going public with a $2 billion valuation and chatter about AirBnB angling for a $1 billion valuation.
Meanwhile, HomeAway managed to price its shares at $27, at the high end of its range, at a $2.15 valuation and began trading today on Nasdaq.
The expected $216 million funding infusion comes on top of half a billion dollars in previous funding, making HomeAway “one of the most well-funded Internet companies ever,” according to The Wall Street Journal.
Dennis Schaal was North American editor for Tnooz.