Airbnb raises $100M at $25.5B valuation
SAN FRANCISCO — Internet high-flier Airbnb has raised more than $100 million in a new round of funding.
The San Francisco home-rental company was valued at $25.5 billion, the same as it was over the summer, a person familiar with the funding told Paste BN, on the condition of anonymity because he is not authorized to discuss the funding publicly.
Airbnb declined to comment by email. The funding was first reported by The Wall Street Journal.
Airbnb generated $340 million of revenue on bookings of $2.2 billion in the third quarter, the person said. Airbnb makes money by taking a 3% cut of each booking and a 6% to 12% service fee from guests.
Airbnb is still unprofitable but expects to be profitable in 2016, the person told Paste BN.
Valuations of privately-held tech companies have come under growing scrutiny. Fidelity Investments and BlackRock have marked down the value of some of those investments, such as Dropbox and Snapchat, according to reports.