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December 19, 2016

Airbnb seeks to raise additional $153m in equity

The latest round of fundraising values the home-rental startup at about $30bn.

By CBR Staff Writer

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.

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.

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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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