Airbnb rakes in $1B in latest funding round

The short-term rental company raised $448M of it since September

New York /
Mar.March 09, 2017 01:40 PM

Airbnb announced Thursday that it brought in more than $1 billion during its latest round of fundraising, valuing the nine-year-old hospitality startup at at $31 billion.

The San Francisco-based company previously said it raised about $555 million as part of the same funding round in September, but a source close to the company told Reuters that Airbnb has raised an additional $447.85 million, pushing the total over $1 billion. Previously, it raised $100 million in a funding round in the fall of 2015.

During the second half of 2016, Airbnb turned a profit for the first time, according to Bloomberg. In November, Bloomberg also reported the company was in advanced talks to buy its biggest Chinese rival, Xiaozhu.com. Meanwhile, the company is considering breaking into the long-term rental market.

The scourge of commercial property owners across New York City, Airbnb is the subject of a lawsuit brought by Parker Madison Partners, who allege that Airbnb is actually an illegal brokerage and should be registered with the state of New York in order to continue doing business. Airbnb has not commented on the litigation. [Reuters]  — Will Parker


Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
From left: Mayor Bill de Blasio, 54 West 39th Street, 62 Grand Street, and 208 West 30th Street (Credit: Google Maps)
The Airbnb crackdown continues: City targets three more buildings
The Airbnb crackdown continues: City targets three more buildings
Airbnb CEO Brian Chesky (Getty)
Airbnb’s losses balloon to $4.6B in 2020
Airbnb’s losses balloon to $4.6B in 2020
Barcelona Mayor Ada Colau (Getty, iStock)
Barcelona may tighten rules on short-term rentals…again
Barcelona may tighten rules on short-term rentals…again
Matterport CEO RJ Pittman (Getty)
Real estate VR tech firm Matterport to go public via SPAC
Real estate VR tech firm Matterport to go public via SPAC
(Photo illustration by The Real Deal)
Hospitality startups pick at carnage of failed rivals
Hospitality startups pick at carnage of failed rivals
The Real Deal's E.B. Solomont
Compass investors in line for payday, $100M for a flex-living startup
Compass investors in line for payday, $100M for a flex-living startup
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...