Bloomberg News

HomeAway CEO Sharples Says IPO Can Drive Users to Vacation Site

June 29, 2011

June 29 (Bloomberg) -- HomeAway Inc., the vacation-rental website that just raised $216 million in an initial public offering, expects more customers to visit the site following the share sale, Chief Executive Officer Brian Sharples said.

“The reason we took the company public is even though we have a great company, most consumers around the world have never heard of the business,” Sharples said in an interview today. “By taking the company public, presuming this is a successful IPO, it really puts the business on the map.”

HomeAway isn’t “one of these rocketship internet companies that has superhigh growth and potentially an uncertain future,” he said. “HomeAway is really a very, very predictable business. We have been an above average growth company but very stable in terms of our growth year to year.”

The Austin, Texas-based company sold 8 million shares at $27 apiece, according to data compiled by Bloomberg. HomeAway offered 8 million shares for $24 to $27, according to a regulatory filing.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Lisa Rapaport at lrapaport1@bloomberg.net


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