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Technology / AI and automation

Airbnb seeks to raise additional $153m in equity

Home-rental startup Airbnb is looking to raise an additional $153m as an extension of a recent funding round.

Airbnb authorised the sale of up to $153m in equity to investors, according to venture capital database CB Insights, which obtained the company’s financial filing.

The funding is an extension of a round in September, when Airbnb raised over $555m. Alphabet, investment arm CapitalG and Technology Crossover Ventures have reportedly took part in the round.

Investors have valued the company at $30bn.

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According to CB Insights, the price per-share for the sale is $105, compared to the $93.09 share price the company proposed in its last year’s financing round.

Private stock market provider Equidate reported that Airbnb raised over $3bn in equity since its founding in 2008.

Bloomberg reported that the home-rental company secured a $1bn debt facility this year from banks that include JPMorgan Chase, Citigroup, Bank of America and Morgan Stanley.

Some of the company’s capital has been used to buy back shares from Morgan Stanley.

AirbnbIn 2014, at the Guardian Changing Media Summit, Airbnb CTO and co-founder Nathan Blecharczyk said that the company was currently well-capitalised enough and was not seeking an IPO.

It has however not stopped continuing rampant speculation about an IPO.

Based in San Francisco, California, Airbnb makes revenue by taking a 3% share of each booking on its website, and it charges a 6% to 12% service fee from guests.

Airbnb claims to connect people to unique travel experiences, at any price point, in over 34,000 cities and 191 countries.
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CBR Staff Writer

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