Airbnb Reportedly Hits $20B Valuation
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This has already been a busy year for the real estate and sharing economy startup Airbnb. Between launching a new "hotel tax" earlier this year, and the first Airbnb-related tenant eviction in a New York rent-stabilized apartment, the company has made constant headlines. Some have even called Airbnb the number one threat to the hotel industry.
Though the company continues to face regulatory problems and hotel lobby backlash, Airbnb's latest pre-IPO funding round reportedly may hit $20 billion. Airbnb joins the latest group of startups with remarkably high valuations as private-equity funds and Silicon Valley capitalists continue to reward startups that generate revenue. Last December, the shared office provider WeWork was said to be closing in on a $6B valuation. And Uber recently expanded its latest fund's capacity by $1B, perhaps lending greater credence to its eye-popping $40B valuation.