Airbnb raises $555 million to fund home-rental site’s growth1 min read . Updated: 23 Sep 2016, 03:17 PM IST
Google Capital and Technology Crossover Ventures are lead investors in the round, expected to total $850 million
San Francisco: Airbnb Inc. said it has raised $555.5 million in new funds as the company, which lets people rent out their homes to travelers, expands around the world.
This funding round, which values the San Francisco-based company at $30 billion, could eventually reach $850 million, said a person familiar with the matter, who asked not to be identified because talks are ongoing. Bloomberg reported last month that Airbnb was seeking up to $850 million in new funding at a $30 billion valuation. The company disclosed that it has raised $555.5 million in a regulatory filing on Thursday.
Google Capital and Technology Crossover Ventures are lead investors in the round, people familiar with the matter said. The investors were previously reported by the Wall Street Journal on Thursday, and Fortune earlier reported on plans for the regulatory filing. Airbnb, Google parent Alphabet Inc. and Technology Crossover Ventures declined to comment.
As part of the funding efforts, Airbnb is allowing some employees to sell stock, which will total about $200 million, one of the people said. Arranged sales for employees can help relieve pressure on the company to go public or sell by letting staff cash out their equity stakes. Bloomberg