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Airbnb raises US$555m to grow globally

Friday, September 23, 2016 - 09:42

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Home sharing giant Airbnb just raised US$555 million and is seeking even more in a funding round that values the company at US$30 billion, a source close to the company told AFP.

[SAN FRANCISCO] Home sharing giant Airbnb just raised US$555 million and is seeking even more in a funding round that values the company at US$30 billion, a source close to the company told AFP.

The San Francisco-based startup has taken in US$555.46 million through a private funding round that launched in late July and remained open, according to a filing by the company Thursday with the US Securities and Exchange Commission.

The funding round could reach US$850 million, the source told AFP.

Money taken was expected to be used to fuel growth and international expansion of Airbnb.

sentifi.com

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An investment arm of internet titan Google and Technology Crossover Ventures were among backers taking part in the funding round, according to the source.

A value of US$30 billion - based on what stake in the company investors get for their money - makes Airbnb the most precious Silicon Valley startup behind ride-sharing titan Uber, which has been reportedly valued at US$68 billion.

Airbnb had a value of US$25.5 billion during a US$100 million funding round in November 2015.

The San Francisco-based company, run by co-founder Brian Chesky, hoped to begin showing a profit this fiscal year.

AFP

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