Airbnb Closes $1 Billion Round

 

Airbnb, the global home rental service, has raised an additional round of funding at just over $1 billion reports CNBC.

The company was also profitable for the first time in 2016.

The San Francisco-based company has upended the travel industry by letting homeowners rent their properties on a nightly basis to visitors from around the world.

Airbnb has raised more than $3 billion to date and has a valuation of $31 billion. The site has properties in over 65,000 cities and 191 countries. It has over 150 million registered members.

The investors in the latest round haven’t been identified by the company but previous investors include JP Morgan Chase, Capital G, TCV, Andreessen Horowitz, Greylock Partners and Sequoia Capital.

 

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