Airbnb receives USD500 million funding round
Investment news slows down every Fridays but today was quite different as home rental company Airbnb took in a hefty USD500 million. The funding round was let by private equity TPG Capital.
The half billion dollar was a rare funding for private financing companies. If the reported funding round is accurate, this would value the company USD10 billion. The investment was received by Airbnb ahead of its planned public debut that was reported by Wall Street to occur later this year, said a report from Venture Beat.
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Home-rental startup Airbnb was founded in 2008. From then, the company has already taken in USD326 million worth of investments. The funding round received today summed up to USD826 million for Airbnb.
Wall Street Journal has previously said that the investment round for Airbnb would be led by TPG and Dragoneer Investment Group. It also added that T. Rowe Price and other mutual funds would also participate in the investment.