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Silicon Valley VCs Bet Farm On Vacation Rental Site HomeAway

fallinghouse.jpgTechnology Crossover Ventures, IVP, and Redpoint pumped $250 million into vacation rental roll-up HomeAway at a $1.15 billion valuation, says TechCrunch. The company will presumably use the money to snap up the remaining vacation-rental sites and then hunker down through the rest of the Depression.

HomeAway does have revenue, at least ($150 million) and even EBITDA ($50 million). Both numbers, we expect, will now head south in a hurry as consumers stop taking vacations. But acquisitions should get cheaper, and, hopefully, the company will be smart enough to hoard most of the take for the rainy day.

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In other news:

* Blu-ray players slashed to $200 and still no one wants them.
* Viacom threatens to move HQ to inauspicious old New York Times building...but will stay put.
* Cost of TV ads has fallen 30% in past decade after adjusting for inflation.

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