AirBnB raises $1bn in funding amid reports of IPO preparations
(ShareCast News) - Home-sharing startup AirBnB has closed its latest round of funding, taking in a cool $1bn from investors as speculation grows as to whether the company will seek to go public in the near future.
After a barren period for tech IPOs in recent years, Snapchat parent Snap Inc was floated on the New York Stock Exchange last week, surging 44% above its listing price on its first day of trading.
In a Securities and Exchange Commission filing on Thursday, AirBnB disclosed the $1bn figure, which is up from the $555m investment it received in September.
The short-term rental company did not disclose what plans it had for the latest round of funding, but it has been reported that AirBnB reached profitability for the first time during the second half of 2016.
AirbnB operates in 65,000 cities across 191 countries, with users offering their homes to prospective holidaymakers as alternative accommodation.
It currently has a private valuation estimated to be around $30bn, making it larger than the likes of Hilton and InterContinental.
The San Francisco-based firm has started to make investments of its own, after acquiring payments startup Tilt and vacation rentals manager Luxury Treat in the last year, for hundreds of millions of dollars combined.