VRBO, which is an acronym for Vacation Rental By Owners, was founded by David and Lynn Crouse in 1995. The couple had a condo that they decided to rent out, rather than sell. What began with a single condo offering, has turned into one of the largest vacation rental sites in history. After Lynn was injured in a car accident and David lost his job, the couple decided to move to California for improved job prospects. They purchased a house in northern California and decided to rent their condo.
The internet was in its infancy, so the couple began with an 800 number and a picture of their condo on the back of skiing magazines. Later, Dave built a website and the company was actually run from the couple’s basement.
Today, in combination with their parent company, VRBO operates a vacation rental marketplace with more than 2,000,000 vacation rentals in 190 countries. VRBO was acquired by HomeAway in 2006 for $160 million. The company operates as a subsidiary.
VRBO has headquarters in Austin, Texas. Along with its parent company, VRBO had annual revenue in 2014 of $448.6 million