March 2014: Airbnb Pursuing Valuation Above $10 Billion in New Fund Raising Round
Geege Schuman stashed this in Airbnb
Airbnb is among the most talked about companies of the moment. Its services assist people in renting out their homes, and it collects a cut of the payments. But its success has also made it a target of regulators, who are looking into whether the business is depriving states of tax revenues.
If Airbnb is worth $10 billion then Y Combinator has two $10 billion companies.
The first was Dropbox.
The couch-surfing company is close to raising more than $400 million in a new round of financing, a person briefed on the matter said on Thursday. The fund-raising effort would value the six-year-old Airbnb at more than $10 billion.
Leading the round is TPG, which has already taken stakes in other Silicon Valley darlings like the car-ride service Uber.
Airbnb’s fund-raising round is the latest sign of exuberance in the technology world, as the new generation of start-ups fetches eye-popping valuations. Companies like the online storage provider Dropbox have been appraised at about $10 billion, while Facebook – itself worth more than $172 billion – bought the messaging application WhatsApp for $16 billion last month.
Being worth $10 billion would make them more valuable than Wyndham and Hyatt.
Wow, that did not take long.