Airbnb Inc is a home-stay aggregator that lets you rent your home or apartment to travelers on a short-term basis. If sources are to be believed, the company is planning to raise more funds at a $30 billion valuation.
Once this round is complete, the company would have tripled its valuation in the past two years. Prior to this, the company has raised $1.5 billion at a valuation north of $25 billion. This round of funding included 13 investors, but was led by General Atlantic, Hillhouse Capital and Tiger Global.
Recently, the company has also obtained $1 billion in debt facility from some of the largest banks in the U.S.
In addition to this, such a deal would make Airbnb the second most-valued startup in the United States after Uber, which is valued at a staggering $62.5 billion. The company — as reported by NY Times — plans to use the infused funds to focus its energy on growth and international expansion.
The home-stay aggregator is currently also experimenting with new features and products, alongside an alternative sources of revenue. It plans to go beyond short-term rentals and add booking features, including museum tours and restaurant reservations.
Founded in 2008 by Brian Chesky, the company was trying to enter a niche category and build an online marketplace that enabled people to list, find, and rent homes in a foreign land. Failing to grasp the nerve of the users thrice gave the company insight into how to pivot their business offering into what it is today.
Airbnb now has more than 50 million people around the world who have listed their properties on the platform and serves over 30 million people every year.
The company is currently caught in a legal battle with the New York government, where the legislators have passed a bill that will further restrict apartment listings. It has gone ahead and filed a case against the city of San Francisco for imposing penalties on home rental registration rules drafted by Airbnb.
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