Travelmob

Travelmob was a Singapore-based online social marketplace for vacation rentals, specifically targeting the Asia-Pacific region. The company was founded in 2012 by Turochas "T" Fuad, former managing director of Skype Asia Pacific, and Prashant Kirtane, a former senior director of engineering at Yahoo!. The founders' backgrounds in major tech companies like Yahoo! and Skype provided them with extensive experience in e-commerce, mobile technology, and scaling businesses across the diverse Asian market. Fuad, a serial entrepreneur, had previously founded and sold a company to Yahoo!, while Kirtane brought deep engineering expertise.

The business operated as a peer-to-peer platform connecting property owners and managers with travelers seeking local and authentic accommodation experiences. It served a global clientele, with about half of its customers coming from outside the Asia-Pacific area, including the US and Europe. Travelmob's revenue was generated by facilitating the booking process through a secure payment system, where guests paid upfront, and the funds were held until 24 hours after check-in to ensure satisfaction for both parties. The platform allowed hosts to list their properties for free, ranging from luxury villas and houseboats to city apartments.

Travelmob's service aimed to provide an alternative to traditional hotels, offering a wide variety of unique properties for any budget. The platform was localized with support for multiple languages and currencies to address the fragmented Asian market. Key features included social media integrations for sharing listings, a transparent review system, and "experience tags" to help travelers find accommodations based on the type of holiday they desired.

The company quickly gained traction, securing $1 million in seed funding in late 2012 from investors including Jungle Ventures and Accel Partners. In July 2013, just over a year after its launch, US-based vacation rental giant HomeAway acquired a 63% majority stake in Travelmob for an undisclosed amount, investing an additional $2 million to fuel its growth in Asia. The acquisition was a strategic move for HomeAway to establish a strong foothold in the rapidly growing Asian travel market. By October 2015, HomeAway had acquired the remaining shares, fully absorbing the company. Travelmob was subsequently rebranded as HomeAway Asia, and its listings were integrated into HomeAway's global network, which is now part of the Expedia Group. Following the full acquisition, CEO Turochas Fuad left to build a new startup, while CTO Prashant Kirtane remained, eventually becoming Vice President for Asia at HomeAway.

Keywords: Travelmob, vacation rentals, Asia-Pacific travel, short-term rentals, peer-to-peer accommodation, social travel marketplace, Turochas Fuad, Prashant Kirtane, HomeAway acquisition, Singapore startup, travel tech, local accommodation, online booking platform, alternative lodging, villa rentals, apartment sharing, Asian tourism, Expedia Group, Jungle Ventures, Accel Partners