Airbnb Raises $100M as it Nears $1B Annual Revenue
Airbnb just raised over $100M in a new round of funding done at the same $25.5B valuation as an earlier round completed in July. Investors were pleased with the home rental service's growth, nearly doubling revenue and bookings year-over-year, with $340M in Q3 revenue on $2.2B of bookings.
The sharing economy giant is tracking beyond its projected $825M, with revenue of $900M forecast for this year, the Wall Street Journal reports. At this rate, Airbnb's challenge of attracting investors will come down to steep share prices more than lack of confidence in its potential.
The business has a few more years to grow to justify its current valuation. At the same time, it's risky to hold shares, since there's no public market for them. [WSJ]
Pictured: Airbnb co-founder Brian Chesky