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New funding values Airbnb at US$30 billion

Profile Photo By: Steve Shellum
June 30, 2016

New funding values Airbnb at US$30 billion

Airbnb is in talks for a new round of funding that would value the company at US$30 billion, according to a source close to the company.

Airbnb intends to use the financing to support new investments and growth opportunities, the source added. The New York Times first reported the news on Tuesday.

Airbnb, which expects to achieve profitability in 2016, raised over US$100 million in a round of funding late last year that valued the company at US$25.5 billion, Reuters reported.

The San Francisco-based startup, which operates in nearly 200 countries, also secured a US$1 billion debt facility in June from some big US banks to finance its expansion plans.

The rise of Airbnb and other such startups have increased the pressure on the hotel bookings business of established travel companies such as Priceline Group and Expedia.

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