Airbnb confirmed a $1.5B private-funding round, launching its value to a whopping $25.5B—third in startups behind Uber and Xiaomi, the Chinese smartphone maker.
The company was valued at $10B during its last funding round in April 2014.
Private-equity firms General Atlantic, Hillhouse Capital Group of China and investment firm Tiger Global Management led the funding frenzy, totaling about a third of the shares offered, Business Insider reports.
Public funds like Wellington Management and Baillie Gifford also got in on the action while others—T. Rowe Price Group and Fidelity Investments—upped their shares.
Airbnb posted $340M in Q3 revenue on $2.2B in rentals. The Wall Street Journal expects a total annual revenue over $900M this year and $10B by 2020—up from "only" $250M just two years ago. [BI]
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