Airbnb raises $100M-plus in latest funding round
Popular home-sharing website generated $340M in revenue on bookings of $2.2B in Q3
Airbnb secured more than $100 million in its latest round of private equity funding, which recently closed. The round occurred at the same time as the $25.5 billion valuation during the company’s previous funding round this summer.
The popular and controversial home sharing service marketed its solid growth to investors as it sought a fresh influx of capital. Airbnb generated $340 million in revenue in the third fiscal quarter of this year on bookings of $2.2 billion, according to an investor slide presentation.
Both figures were roughly double from the same period last year, according to the Wall Street Journal. The number of nights booked on the company’s site also grew to nearly 24 million in the third quarter, compared to more than 11 million in the same quarter last year.
The investor presentation revised Airbnb’s total revenue forecast this year to $900 million — up from the $825 million previously projected during the San Francisco-based company’s last fundraising round in July, which saw it raise a whopping $1.5 billion.