Previous Page
Transaction Reports HouseTrip.com
HouseTrip.com raises $40m from Accel, Balderton and Index Ventures
HouseTrip launched in January 2010 with a vision to make online booking of holiday rentals as easy as booking a hotel and to empower property owners around the world to generate income by offering a more authentic accommodation experience for travellers. By the end of 2012, travellers will have booked more than 3 million nights’ sleep via HouseTrip since its launch.
HouseTrip has achieved phenomenal growth in a highly fragmented market by systematically building quality supply and choice for each of its target cities. The company is particularly focused on Europe, the largest segment of the $100billion+ global holiday rental market.
Arnaud Bertrand, Co-founder and CEO of HouseTrip, says: “My wife and I created HouseTrip on the back of a painful experience booking a holiday rental. We knew there had to be a better way to discover and book holiday rental accommodation that was both anxiety-free and easy-to-use.”
Junjun Chen-Bertrand, Co-founder and CFO, adds: “We are very excited to welcome Accel Partners as we look to expand internationally. Their experience in taking companies global will be a critical asset for the next phase of our growth.”
Sonali De Rycker, Partner, Accel Partners, says: “In a short space of time HouseTrip is fast becoming the destination of choice for the European traveller. With a world-class product and management team, HouseTrip has the potential to create a very successful marketplace in the exciting category of vacation rentals.”
Michel Jaccard (Founding Partner, id est avocats) was Counsel to the Company and the founding team: “The deal needed true corporate expertise, of course, but also general commercial, employment, and IP capabilities. A perfect fit for our corporate and technology boutique firm.
In other deals (especially M&A), most commercial items are agreed before we start drafting. Here, we had to incorporate significant fine tuning of commercial discussions into our documents rather late in the process. I am glad we were able to support the company and react nearly in real time so that the deal was completed quickly after commercial discussions were finalized, thus avoiding the traditional sequence – presigning, signing, closing, over a rather long period of time (and uncertainty).
“We are proud to have worked on this deal, which represented another opportunity for us to show our capabilities to handle complex corporate deals for which bigger firms would be happy to compete.”
InRetail Perú InRetail Perú IPO
Inretail Peru Corp announced that in the relation of the Company’s initial public offering in the international markets, its Board of Directors approved the issuance of approximately 20,000,000 new ordinary shares, at an average price of USD 20.00 per share.
Peru’s impressive growth has been boosted, in big part, thanks to consumer spending on the back of consumer credit. That is palpable while strolling around the crammed -and noisy- streets of Peru’s capital, Lima, where is quite hard not to spot an Inkapharma drugstore or a Plaza Vea supermarket. Now Intercorp, one of the Andean country’s largest lenders and retailers which own those popular brands, is planning to raise $400m from an initial public offering, for its supermarket and shopping centre arm, InRetail. “We believe we are in a strong position to capitalize on Peru’s consumption growth to drive sales and profitability in all of our segments,” Intercorp said in the offering note.
The company, owned by Peru’s tycoon Carlos Rodríguez-Pastor, will price 21.05m shares at between $19 and $22 per share, which may be sold in Peru as well as overseas. But this
particular one, managed by JPMorgan Chase, Citigroup, Morgan Stanley, and Banco BTG Pactual, will be the largest IPO by a Peruvian company since 2006, when the Lima-based Hochschild raised $513m in London.
Luis Mastellari (Partner) and Analida Romero (Associate) of Arias, Aleman & Mora led the transaction.
Arias, Aleman & Mora acted as special Panamanian Counsel to InRetail Perú Corp., a Panamanian corporation, in connection with the sale of 23,000,000 common shares of InRetail Perú Corp., including 3,000,000 Shares subject to an over-allotment option, pursuant to a Purchase Agreement dated October 3, 2012, among InRetail Perú Corp. and Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Banco BTG Pactual S. A. – Cayman Branch.
Luis Mastellari stated: “Since the issuer was a Panamanian corporation, it was an experience to satisfy the legal requirements of the US and Peruvian securities regulations, while still complying with the Panamanian corporate laws and regulations.”
InRetail Perú IPO
Panamanian counsel to InRetail Perú Corp.: Legal advisor to HouseTrip Ltd and the founders:
HouseTrip.com raises $40m from Accel, Balderton and Index Ventures Debt providers:
Legal advisor to Accel Partners:
Legal advisor to Balderton Capital & Index Ventures:
Legal advisors to InRetail Perú:
Estudio Saco-Vertiz & Asociados Grimaldo Abogados
These announcements appears as a matter of record only