Popular house rental service Airbnb is reportedly about to close a $1.5 billion USD round of funding that would value the start up company at $24 billion USD.
This is led by U.S. growth equity firm General Atlantic which the company inching towards an IPO. The valuation would matche the $1.5 billion USD that Facebook raised just a year before going public in 2012.
The startup founded in 2008. They are successfully chip away at the grip of big hotels in terms of offering travelers a place to stay For those who are in the tight budget, they rely over its services. Airbnb’s growth is dependent on expansion into Asian markets.