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 funding round is led by U.S. growth equity firm General Atlantic, furthering rumors that Airbnb is another startup inching towards an IPO. As the Financial Times points out, this valuation would match the $1.5 billion USD that Facebook raised just a year before going public in 2012.
Founded in 2008, Airbnb has proven to successfully chip away at the grip of big hotels in terms of offering travelers a place to stay. Appealing to money-conscious and travel-hungry millennials, Airbnb has surely established itself as an industry mainstay, with plenty of room to grow. But much like Uber, Airbnb’s growth is dependent on expansion into Asian markets. Are you going to stay at an Airbnb listing next time?