Airbnb valued at US$20b in latest fund raising, say sources

New York

AIRBNB Inc is raising money from investors in a financing round that would value the room-sharing service at US$20 billion or more, according to sources.

Airbnb may bring in about US$1 billion in the funding, said the sources. The closely held company, backed by venture capital firms including Sequoia Capital, Greylock Partners and Founders Fund, was given a value of US$10 billion last year in a round led by TPG Capital Management. Airbnb has raised more than US$700 million before the latest financing.