Airbnb Inc has raised $1.5 billion in a funding round led by US private equity firm General Atlantic, along with participation from Hillhouse Capital, Tiger Global, Wellington Management, Baillie Gifford, T. Rowe Price Group Inc. and Fidelity Investments.
The latest fundraising round brings the company’s valuation to $25.5 billion. Morgan Stanley, an American multinational financial services corporation is acting as the adviser to the deal. Along with the American firm, other participants were Singapore’s Temasek Holdings, Kleiner Perkins Caufield & Byers, GGV Capital, China Broadband Capital and Horizon Ventures, as reported by VCCircle.
Founded in 2008 and based in the US, Airbnb is an online community for people to list, discover and book accommodation around the world. In April 2014, the company had raised an amount of $450 million led by private equity firm TPG, at a $10 billion valuation.