Airbnb Inc. is in advanced talks to raise funds that would value the online home-rental marketplace at more than $10 billion and place it among the world’s most valuable startups, according to several people familiar with the process.
Private-equity firm TPG is likely to lead the round, which could total between $400 million and $500 million, said two of the people.
At $10 billion, Airbnb would be valued more highly than some large hotel operators with which it competes. Wyndham Worldwide Corp., which manages 7,500 hotels under the Wyndham, Ramada and other brands, has a market value of $9.4 billion. Hyatt Hotels Corp. is valued at $8.4 billion.