Airbnb Holds First Close On $850M Round by PitchBook
Airbnb has secured $555 million of a planned $850 million financing, according to an SEC filing. Rumors of the round—said to value the short-term rental marketplace at $30 billion—first popped up in early August, but this is the first news of a close. The Wall Street Journal reports that Google Capital and Technology Crossover Ventures led the round.
The company is also reported to be working on, or have closed, a secondary transaction for providing liquidity to early shareholders, a group of investors most likely comprising employees. The WSJ reports $200 million of employee stock has already been sold as part of the latest round.
In his book, The Dhandho Investor: The Low–Risk Value Method to High Returns, Mohnish Pabrai coined an investment approach known as "Heads I win; Tails I don't lose much." Q3 2021 hedge fund letters, conferences and more The principle behind this approach was relatively simple. Pabrai explained that he was only looking for securities with Read More
Airbnb has now secured more than $3 billion in funding since its 2008 founding, and that’s not even including a $1 billion debt round raised just three months ago. With even more money in the bank, it seems Airbnb is in no rush to IPO anytime soon.