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Airbnb is now valued more than all other hotel giants, and if revenues come in at what they project it to be, then they will be a bigger threat than what the traditional hospitality and online travel sector leaders has been giving it credit for.

Home-sharing startup Airbnb Inc. is in talks to raise financing at a valuation of $24 billion, according to a person familiar with the matter.

San Francisco-based Airbnb is now projecting 2015 revenue of $900 million, up from $250 million in 2013, the person said, asking not to be identified as the details are private. The new valuation is more than double a previous estimate and makes Airbnb one of the most valuable private companies in the world behind Xiaomi Corp. and Uber Technologies Inc.

Airbnb, which publishes listings that help users rent short-term private homes, rooms and apartments, has raised funds at an aggressive clip to bankroll an international expansion. The seven-year-old company co-founded by CEO Brian Chesky was last valued at $10 billion in April 2014, when it raised $800 million.

Its service is available in 190 countries, according to its website.

The Wall Street Journal first reported the company’s new valuation on Thursday, and also cited sources as saying the company is raising $1 billion in new capital.

Kim Rubey, a spokeswoman for Airbnb, didn’t return an e-mail requesting comment.

This article was written by Eric Newcomer from Bloomberg and was legally licensed through the NewsCred publisher network.

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Tags: airbnb, valuations

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