HomeAway Gains $250 Million Investment Round - Overvalued?

HomeAway, a vacation real estate rental service, is bucking the investment trend and has raised a $250 million round of financing.  That pegs the company valuation at $1.5 Billion, with revenues hovering around $150 million. The company, which has grown through acquisition, is expected to use the investment to continue aquiring competitors — although some question just what competitors are available right now.  Some of the infusion of capital will also be used to cash-out initial investors.  Nice deal for them.