HomeAway Names Breakwell Director as Chaffee Resigns
He will serve as an independent director and as a member of HomeAway’s audit committee, replacing Todd Chaffee, who resigned from the board, the Austin, Texas-based company said today in a regulatory filing.
Breakwell, previously president of Expedia’s international business, joins the board as HomeAway is expanding outside the U.S. and adding travel services to its mainstay business helping users rent vacation properties. HomeAway in June said it will offer airline tickets and rental cars through a partnership with online travel agency Priceline.com Inc. (PCLN)
Chaffee is a partner at Institutional Venture Partners, an early investor in HomeAway. The fund participated in a $250 million financing round in 2008 that was led by Technology Crossover Ventures and included Redpoint Ventures. Institutional Venture has also backed Twitter Inc., operator of a micro- blogging service, and LivingSocial, a daily-deal website.
HomeAway raised $216 million in an initial public offering in June 2011, selling 8 million shares at $27 apiece. The stock has lost 13 percent since the IPO. The shares gained less than 1 percent to $23.60 at the close in New York.
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