Online Home Rental Airbnb raises $1.5B Led By General Atlantic Others

Online home rental marketplace Airbnb Inc is said to be raising $1.5 billion in a fund raising round led by U.S. private equity firm General Atlantic with participation from Hillhouse Capital, Tiger Global and others.This fundraising round values Airbnb at $25.5 billion, TB reported.


Quoting people familiar with the matter, the report said that Morgan Stanley is acting as the adviser to the deal, which also involves participation from Singapore’s Temasek Holdings, Kleiner Perkins Caufield & Byers, GGV Capital, China Broadband Capital and Horizon Ventures.

The report further stated that several public “crossover” investment funds such as Wellington Management, Baillie Gifford, T. Rowe Price Group Inc. and Fidelity Investments (who generally acquire stakes in private companies ahead of IPOs) are also participating in the round.

In April 2014, Airbnb had closed a $450 million round of funding, led by private equity firm TPG, at a $10 billion valuation. Previously, the company had raised $326 million from Y-Combinator (where it was incubated in 2009), Sequoia Capital, Youniversity Ventures, Greylock Partners, SV Angel, Keith Rabois, Elad Gil, Jeremy Stoppelman, Andreessen Horowitz, General Catalyst Partners, Jeff Bezos, Digital Sky Technologies, CrunchFund, Ashton Kutcher, Eniac Ventures and Founders Fund.


Airbnb, whose website rental listings range from private rooms to manors and islands, has become one of Silicon Valley’s most successful start-ups in the six years since it was founded by a trio of graduates – Brian Chesky, Joe Gebbia and Nathan Blecharczyk – from the Rhode Island School of Design and Harvard. Airbnb now has over 1.4 million listings across nearly 200 countries. As per media report, its revenues in 2013 was about $250 million, more than double what it made the year before.


Airbnb has operations in all the major cities of India. Smile Group had previously partnered Airbnb in 2011 to help it expand internationally in countries other than the US.


This is the second major global fund raising news this week. It was reported earlier this week that ride sharing major Uber Technologies Inc. is raising $1 billion investment led by Hillhouse Capital Group. According to separate media reports earlier in February this year, Uber had expanded its Series E round by $1 billion just weeks after the company closed a $1.2 billion round of financing , increasing total capacity for the round at $2.8 billion. In total, this would put a valuation of $50 billion on Uber. The other two companies that have raised funding in the similar range are Alibaba Group Holding Ltd. that secured $1.6 billion in 2011 and Facebook Inc. that raised $1.5 billion before it went public in 2011.

Share this:
Tags:

About Jessica Priston

Ut tellus dolor, dapibus eget, elementum vel, cursus eleifend, elit. Aenean auctor wisi et urna. Aliquam erat volutpat. Duis ac turpis. Integer rutrum ante eu lacus. Vestibulum libero nisl, porta vel, scelerisque eget, malesuada at, neque. Vivamus eget nibh. Etiam cursus leo vel metus. Nulla facilisi. Aenean nec eros.

  • Website
  • Google+
  • Rss
  • Pinterest
  • Instagram
  • LinkedIn
  • Vimeo
  • Youtube
  • Flickr
  • Email

Related News

  • Cashback site Cashkaro now offers restaurant discounts

    India’s e-commerce market looks large and lucrative enough from the outside, but insiders know it is very challenging. In fact, the number of e-commerce sites and businesses is growing so fast here today that the competition is cut-throat. This

  • What is Viscose Material? Advantage and disadvantage of viscose.

    Viscose is a unique form of wood cellulose acetate used in the nnmanufacture of a number of different products. This includes items for nnthe medical industry, though it is perhaps most common as a major nningredient in the production of the fabric r

  • Honda launches new CBR 250R bike
    Honda launches new CBR 250R bike
    July 01, 2014 5:50 am

    New Delhi: Honda Motorcycle & Scooter India (HMSI) launched a new edition of its global sports performance bike CBR 250R priced between Rs 1.56 lakh and Rs 1.86 lakh (ex-showroom Delhi). The 2013 edition CBR 250R is available for sale across a

  • Zara has opened store at Ambience mall, Gurgaon

    Zara, has opened its new store at Ambience mall, Gurgaon. Spread over 28,000 sq.ft. across two floors the store has taken the space earlier occupied by Debenhams. With this Zara now has twelve stores in India. It is present in 86 countries with