Airbnb Said to Be Raising Funding at $20 Billion Valuation

Airbnb Inc. is raising money from investors in a financing round that would value the room-sharing service at $20 billion or more, people with knowledge of the deal said.

Airbnb may bring in about $1 billion in the funding, said the people, who asked not to be identified because the information is private. The closely held company, backed by venture-capital firms including Sequoia Capital, Greylock Partners and Founders Fund, was given a value of $10 billion last year in a round led by TPG Capital Management. Airbnb has raised more than $700 million before the latest financing.