Airbnb, Uber each said to be working on $1.5 billion funding rounds

Airbnb is in talks with investors to raise $1.5 billion in new financing as the home- and apartment-rental website makes a move to tap into the hot Asian market and expand services in Latin America.

The funding, first reported by the Financial Times on Friday, would value the San Francisco company at $24 billion. That would make Airbnb the third most-valuable venture-backed company in the world, behind ride-booking firm Uber and China’s consumer electronic giant Xiaomi. It would also far eclipse Airbnb’s funding to date — $800 million, currently valuing the company at $10 billion.

The report comes on the heels of multiple reports that Uber is in talks with investors to also raise at least $1.5 billion, which would value the company at a whopping $50 billion, making it the highest-valued VC-backed company in the world.

While Airbnb hasn’t yet hit the 10-digit funding round, a billion-dollar-plus financing is old news to Uber. The company raised $1 billion in the first quarter of this year, $1.8 billion at the end of last year and another $1.2 billion in the summer of 2014.

If both funding rounds are completed, Airbnb and Uber would tie with Facebook for the biggest equity investment into a private tech company. Facebook raised $1.5 billion in 2011, a year before its initial public offering.

Image from Airbnb

 

 

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