HomeAway (NASDAQ:AWAY) is an online vacation rental company that provides a virtual market space where users can post their privately-owned homes for rent. The company has funished villas, resort homes, cabins, secondary vacation living spaces from all over the world with over 9.5 million unique viewers per month. The company's business model allows viewers to browse the website freely at no charge while the property managers and owners pay an annual listings fee. Additional tools and software add-ins are also available for a fee in order to facilitate postings and updates. 
For the full year 2010, KiOR posted $168M in revenue and $16.9M in net income. This was a 40% increase in revenue and 120% increase in net income as compared to the previous year.
The company's initial public offering of stock on the NASDAQ occurred on June 28, 2011. The company offered 8M shares each for $27 at the high end of the the $24-$27 initial price range. The offering raised only a total of $216M. The lead managers of the IPO were Morgan Stanley (MS), Deutsche Bank AG (DB), Goldman Sachs Group (GS) and J P Morgan Chase (JPM). 
The vacation rental market is a highly fractionated and inefficient market space with significant opportunity for online advertising. In the past, vacationers have not had very many consolidated locations to compare offers or explore new travel locations. Historically many property managers have also had issues being to maximize revenues by renting locations during low periods. These inherent market inefficiencies have largely been reduced with online marketing services similar to the ones that HomeAway provides. Similar to EBay (EBAY) and other e-commerce companies, the sellers rely on customer feedback ratings and reviews to develop credibility with potential renters.