AUSTIN, Texas, Oct. 3, 2011 /PRNewswire/ -- HomeAway, Inc. (NASDAQ: AWAY), the world's largest online marketplace for the vacation rental industry, today announced that it has been added to the Russell 3000 Index, following Russell Investments' quarterly addition of eligible initial public offerings to its U.S. and global equity indexes on September 30, 2011. HomeAway was also added to the Russell 1000 Index, a subset of the Russell 3000 Index.
"The addition to the Russell 1000 and Russell 3000 Indexes builds upon HomeAway's positive momentum since our successful IPO in June," said Brian Sharples, Chief Executive Officer of HomeAway. "We believe our inclusion in these indexes presents an opportunity for both improved liquidity and enhanced visibility in the investment community."
Annual reconstitution of Russell's U.S. indexes captures the largest U.S. stocks as of the end of May each year and initial public offerings (IPOs) are added on a quarterly basis, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, allows for automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index, as well as the appropriate growth and value style indexes. The Russell 1000 Index measures the performance of the large-cap segment of the U.S. equity universe and includes approximately 1,000 of the largest securities based on a combination of their market cap and current index membership.
Located in Austin, Texas, HomeAway, Inc. operates the world's largest online marketplace for the vacation rental industry. The HomeAway marketplace brings together millions of travelers seeking vacation rentals online with hundreds of thousands of owners and managers of vacation rental properties located in over 145 countries around the world. HomeAway's websites include HomeAway.com, VRBO.com and VacationRentals.com in the United States; HomeAway.co.uk and OwnersDirect.co.uk in the United Kingdom; HomeAway.de in Germany; Abritel.fr and Homelidays.com in France; HomeAway.es in Spain; AlugueTemporada.com.br in Brazil and HomeAway.com.au in Australia. In addition, HomeAway operates BedandBreakfast.com, a comprehensive global site for finding bed-and-breakfast properties, providing travelers with another source for unique lodging alternatives to chain hotels.
HomeAway Investor Relations Contact:
HomeAway Investor Relations
or Addo Communications at (310) 829-5400
Senior Director of Global Public Relations, HomeAway, Inc.
SOURCE HomeAway, Inc.