Report: Airbnb Closes in on $1.5B Fundraising

Reuters

Online home-rental marketplace Airbnb Inc is closing on a $1.5 billion fundraising that would boost the company's valuation to $24 billion, the Financial Times reported.

The financing is set to be led by U.S. private equity firm General Atlantic, Beijing-based investment management firm Hillhouse Capital and investment firm Tiger Global, the FT said in a report on Friday. (http://on.ft.com/1J9uDZQ)

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All three are new investors in Airbnb, the FT said, citing people familiar with the plans.

Other investors involved in the deal include UK investment firm Baillie Gifford and U.S. mutual fund group Wellington, with current investors Fidelity and T Rowe Price also raising their holdings, the FT said.

Airbnb did not reply to an email seeking comment. (Reporting by Ankit Ajmera in Bengaluru; Editing by Savio D'Souza)

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