News
Report: Airbnb Expects to Reach $24B Valuation
Airbnb expects to close a $1B funding round at a $24B valuation within the next two weeks. For some perspective, that valuation would exceed that of Marriott International Inc, which manages more than 4,000 hotels and is worth $21B. Airbnb is projecting revenues of $900M this year and expects that number to grow to $10B in 2020, according to The Wall Street Journal. The company receives 3% of each booking and also charges guests a 6%-12% services fee. As of the end of May, its website had nearly 1,400,000 listings. [WSJ]
