Airbnb Is in Talks to Raise Funds at $24 Billion Valuation

Airbnb Inc.
The Airbnb Inc. logo and application are displayed on an Apple Inc. iPhone and iPad in this arranged photograph in Washington, D.C. Photographer: Andrew Harrer/Bloomberg

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

San Francisco-based Airbnb is now projecting 2015 revenue of $900 million, up from $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 $10 billion in April 2014, when it raised $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 $1 billion in new capital.

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

For more, read this QuickTake: The Sharing Economy

Before it's here, it's on the Bloomberg Terminal. LEARN MORE