Airbnb has finalized $1 billion in Series F funding that represents an increase from the $555M that it announced as constitutive of its September 2016 capital raise in September 2016. According to a recent SEC filing, Airbnb raised over $1B in Series F equity funding that brings its valuation to roughly $31 billion, or slightly more than its $30 billion valuation as noted in September 2016. Airbnb provides a web-based platform that allows individuals to find accommodation as delivered by the private homes offered by other members instead of hotels. The company has recently expanded its offerings to include “Trips” that allow members to sign up for itineraries and experiences in the destination of their choice. Operating in 65,000 cities spanning 191 countries, Airbnb became profitable in the second quarter of 2016 and currently has no immediate plans to go public in the near future. The company’s decision to remain private, for now, is illustrative of the access to capital had by technology companies and the corresponding deferral of the decision to go public until the product matures or legal and regulatory issues related to the disclosure of business practices are resolved.
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