Airbnb said in talks to raise funds at US$24 billion valuation

[SAN FRANCISCO] Home-sharing startup Airbnb Inc is in talks to raise financing at a valuation of US$24 billion, according to a person familiar with the matter.

San Francisco-based Airbnb is now projecting 2015 revenue of US$900 million, up from US$250 million in 2013, the person said, asking not to be identified as the details are private. The new valuation is more than double a previous estimate and makes Airbnb one of the most valuable private companies in the world behind Xiaomi Corp and Uber Technologies Inc.

Airbnb, which publishes listings that help users rent short-term private homes, rooms and apartments, has raised funds at an aggressive clip to bankroll an international expansion. The seven-year-old company co-founded by CEO Brian Chesky was last valued at US$10 billion in April 2014, when it raised US$800 million.

Its service is available in 190 countries, according to its website.

The Wall Street Journal first reported the company's new valuation on Thursday, and also cited sources as saying the company is raising US$1 billion in new capital.

Kim Rubey, a spokeswoman for Airbnb, didn't return an e- mail requesting comment.

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