Airbnb closes $500 million in funding with $10 billion valuation
According to TechCrunch, Airbnb, has closed on a $500 million round of funding led by private equity firm TPG with a $10 billion valuation. Airbnb is a fast growing website that lets users rent out their properties to make some extra cash and allow travelers to save some money. Airbnb has raised a total of $826 million. It is believed that Allen & Co. helped put together this round for Airbnb.
Airbnb’s previous investors include Y Combinator, Sequoia Capital, Youniversity Ventures, Greylock Partners, Ashton Kutcher, SV Angel, Keith Rabois, Elad Gil, Jeremy Stoppelman, Andreessen Horowitz, General Catalyst Partners, Jeff Bezos, Digital Sky Technologies, Founders Fund and CrunchFund. Some of the previous investors are part of this round.
Airbnb has over 600,000 listings across nearly 200 countries. According to The Wall Street Journal, Airbnb’s revenues in 2013 were around $250 million, which is more than double what it made in the year before.