Home-sharing startup Airbnb is understood to be in talks to raise financing at a valuation of $24 billion.
San Francisco-based Airbnb is now projecting 2015 revenue of $900 million, up from $250 million in 2013, it is understood. The new valuation is more than double a previous estimate and makes Airbnb one of the most valuable private companies in the world behind Xiaomi Corp. and Uber Technologies.
Airbnb, which publishes listings that help users rent short-term private homes, rooms and apartments, has raised funds at an aggressive clip to bankroll an international expansion.
The seven-year-old company co-founded by CEO Brian Chesky was last valued at $10 billion in April 2014, when it raised $800 million. Its service is available in 190 countries, according to its website.
The Wall Street Journal first reported the company's new valuation on Thursday, and also cited sources as saying the company is raising $1 billion in new capital. Kim Rubey, a spokeswoman for Airbnb, didn't return an e- mail requesting comment.
Bloomberg