A new SEC filing confirms Airbnb has locked down $475 million in its latest funding round. This should give the company a $10 billion valuation, reported The Wall Street Journal, “making it one of the most valuable venture-backed companies in the world.”
The new backing comes from T. Rowe Price, Sequoia Capital and hedge fund Dragoneer Investment Group, which is on top of $326 million in capital. VentureBeat reported that existing investor Andreessen Horowitz also added some of the new funds and that these new dollars bring Airbnb’s total investment to $801 million.
A report from Vator adds more details: “Airbnb had previously raised $326 million altogether at a $2.5 billion valuation, including a $117 million Series B round from Andreessen Horowitz, DST Global and General Catalyst and, most recently, a $200 million Series C round from Sequoia Capital, Andreessen Horowitz, General Catalyst Partners, Crunchfund, Ashton Kutcher, and Founders Fund in 2012.”
With its newly-enhanced bank account, Airbnb has been pushing its B2B strategy with a new site based on a deal with Concur to help businesses find houses and apartments, the Journal reported. “Moving further into business travel could expose Airbnb to greater scrutiny from the hotel industry and regulators, which have aired concerns about safety, oversight and tax collection on its properties,” the Journal story said. “Airbnb has sought to reshape its image — in part through a logo redesign that many criticized – from a scrappy apartment-sharing upstart into a major hospitality brand. It has listings in more than 34,000 cities around the world.”
