Airbnb is close to closing a nearly $1 billion funding round at a $24 billion valuation, sources tell The Wall Street Journal's Rolfe Winkler and Douglas MacMillan.
That's a heftier valuation than the enormous hotel chain Marriott (worth about $21 billion), and more than twice the valuation of the travel site Expedia.
Airbnb is earning such a gargantuan valuation with investors in part because of its sunny revenue projections: It sees itself as pulling in $10 billion in revenue by 2020, with profits of $3 billion before interest, taxes, depreciation and amortization.
I never thought it would become so big. It's quickly becoming a nice budget option for certain types of trips.
It's an app for travelers. People can rent out their house or apartment, and the listing appears on the app or website. The traveler can get in touch wifh the owner and negotiate a price and length of stay.
It's quickly becoming a nice budget option for certain types of trips.
we just booked two places yesterday.