Monday, May 25, 2015Monday, May 25, 2015

Airbnb in funding talks valuing it at about $12.7b - source

Published on Mar 21, 2014 2:02 AM

(REUTERS) - Online home-rental marketplace Airbnb Inc is in advanced talks with private equity firms including TPG Capital Management LP to raise funds that would value the company at about US$10 billion (S$12.7 billion), a person briefed on the matter said Thursday.

TPG is likely to lead the funding round, which could exceed US$400 million. Texas-based TPG recently made a large investment in ride-sharing company Uber, another major player in the burgeoning sector known as the sharing economy.

The Airbnb talks were first reported Thursday by The Wall Street Journal.

Airbnb, whose website rental listings range from private rooms to manors and islands, has become one of Silicon Valley's most successful start-ups in the five years since it was founded by a trio of graduates from the Rhode Island School of Design and Harvard.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!